Weighed down by 38.5% in one quarter, Smaio stock drops another 7.5% after its results
The share of the Lyon-based spinal implant manufacturer falls sharply during trading, following half-yearly results that show rising charges. Two research firms adjusted their price targets in the wake, while remaining favorable on the stock.
Below €5.60, the share moves away from its moving averages
The Smaio share loses 7.37% to €5.28, breaking below the €5.60 support level while the CAC 40 gains 0.54% at the same time. The decline is part of a longer slide: the share has shed 17.24% over the week and 38.46% over three months. It is trading 19.27% below its 20-day moving average, at €6.54, and 28.84% below its 200-day moving average, at €7.42. The RSI at 26 is in oversold territory, which describes the intensity of the decline without prejudging what comes next.
Rising charges and price targets cut by two analysts
The move follows the publication on October 13 of the half-yearly results. Operating charges increased by 15%, bringing EBITDA to -€0.8 million, compared with -€0.03 million a year earlier. Over the first nine months, revenue reached €7.2 million (+2%), with the decline in activity from four historical American surgeons being offset by new users.
Against this backdrop, TP Icap Midcap is lowering its target from €8.00 to €7.40 and Portzamparc from €8.20 to €7.20, with both remaining at buy ratings. The two targets are still more than 36% above the current share price. Details of analyst opinions are available for the stock.
