Kepler Downgrades TechnipFMC plc (FTI) to a Hold from a Buy

TechnipFMC plc’s filing revealed that its Director de Carvalho Filho Eleazar unloaded Company’s shares for reported $0.34 million on Mar 09. In the deal valued at $15.10 per share,22,208 shares were sold. As a result of this transaction, de Carvalho Filho Eleazar now holds 107,092 shares worth roughly $ 1.99 million.

Then, Landes Jonathan sold 10,400 shares, generating $124,800 in total proceeds. Upon selling the shares at $12.00, the President Subsea now owns 138,545 shares.

Kepler downgraded its TechnipFMC plc [FTI] rating to a Hold from a a Buy in a research note published on Monday. PT values the company’s stock at a premium of 4.67 to its Monday closing price.

Price Performance Review of FTI

On Monday, TechnipFMC plc [NYSE:FTI] saw its stock jump 2.59% to $18.59. On the same session, the stock had its day’s lowest price of $18.10, but rose to a high of $18.66. Over the last five days, the stock has gained 1.47%. TechnipFMC plc shares have risen nearly 52.50% since the year began. Nevertheless, the stocks have risen 113.19% over the past one year. While a 52-week high of $19.15 was reached on 07/27/23, a 52-week low of $7.88 was recorded on 01/04/23. SMA at 50 days reached $17.45, while 200 days put it at $14.31. A total of 4.29 million shares were traded, compared to the trading of 2.75 million shares in the previous session.

Levels Of Support And Resistance For FTI Stock

The 24-hour chart illustrates a support level at 18.24, which if violated will result in even more drops to 17.89. On the upside, there is a resistance level at 18.80. A further resistance level may holdings at 19.01. The Relative Strength Index (RSI) on the 14-day chart is 57.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.75%. Stochastics %K at 42.27% indicates the stock is a holding.

How much short interest is there in TechnipFMC plc?

A steep rise in short interest was recorded in TechnipFMC plc stocks on Aug 14, 2023, growing by 20000.0 shares to a total of 20.47 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 20.45 million shares. There was a rise of 0.1%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.45% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.99.

TechnipFMC plc [FTI] – Who Are The Largest Shareholders?

In filings from T. Rowe Price Associates, Inc., it is revealed that the company now owns 43,603,573 shares, or roughly 9.95% of the outstanding FTI shares. In other words, the investor’s shares have fallen by -3,203,418 from its previous 13-F filing of 46806991.0. Additionally, Fidelity Management & Research Co decreased -2.86% of its stake after which the total value it holdings stand at $603,169,185, while Columbia Management Investment Ad added 7.90% of its stake to hold $392.02 million in the firm. Over the last quarter, JPMorgan Investment Management, I purchased 2,436,960 shares of TechnipFMC plc, while Hardman Johnston Global Advisors bought 345,960 shares. At present, Dimensional Fund Advisors LP is holding 17,444,231 shares valued at $319.93 million. BlackRock Fund Advisors owned 16,822,203 shares of the company at the time of its most recent 13F filing, worth $308.52 million.

According to FactSet, TechnipFMC plc’s share price will average $22.19 in the next year, based on opinions of analysts polled by the firm. This is up nearly 21.41 percent from its previous closing price of $18.12. Analysts expect TechnipFMC plc stock to reach the higher price of $29.00, while the lowest price estimate is $18.00. However, 21 analysts have rated FTI stock as a Buy in their predictions for 2023.