SBM Offshore (OTCMKTS:SBFFY) Shares Down 10.6% – Time to Sell?

SBM Offshore (OTCMKTS:SBFFY) fell 10.6% during mid-day trading on Monday . The company traded as low as $34.00 and last traded at $34.00. Approximately 150 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,818 shares. The stock had previously closed at $38.0250.

Analysts Set New Price Targets

Separately, Barclays lowered shares of SBM Offshore from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

SBM Offshore Price Performance

The firm has a 50-day simple moving average of $40.12 and a two-hundred day simple moving average of $36.96.

About SBM Offshore

SBM Offshore is a Netherlands‐based provider of floating production, storage and offloading (FPSO) vessels and related services to the offshore oil and gas industry. Founded in 1965 as part of Royal IHC and listed as an independent entity in 2005, the company has established itself as a specialist in the design, engineering, construction and leasing of floating production systems. Headquartered in Schiedam, the firm leverages decades of experience in turret mooring technology and deepwater installations to serve oil and gas operators worldwide.

The company’s core offerings include turnkey FPSO solutions, which encompass front‐end engineering design, detailed engineering, procurement, construction, installation and commissioning.