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TechnipFMC plc (FTI) gets rating Reiterated from TD Cowen

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TechnipFMC plc’s recent filing unveils that its Chair and CEO Pferdehirt Douglas J. unloaded Company’s shares for reported $29.96 million on Mar 04 ’24. In the deal valued at $21.85 per share,1,371,235 shares were sold. As a result of this transaction, Pferdehirt Douglas J. now holds 2,687,307 shares worth roughly $71.48 million.

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Then, Rounce Justin sold 329,469 shares, generating $7,205,487 in total proceeds. Upon selling the shares at $21.87, the EVP & Chief Technology Officer now owns 406,598 shares.

Before that, Melin Alf sold 251,947 shares. TechnipFMC plc shares valued at $5,510,081 were divested by the EVP & Chief Financial Officer at a price of $21.87 per share. As a result of the transaction, Melin Alf now holds 147,446 shares, worth roughly $3.92 million.

TD Cowen reiterated its TechnipFMC plc [FTI] rating to an Outperform in a research note published on February 23, 2024; the price target was $28. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who decreased its forecast for the stock in late February from “a Buy” to “a Hold”. Exane BNP Paribas also remained covering FTI and has decreased its forecast on November 06, 2023 with a “Neutral” recommendation from previously “an Outperform” rating. Jefferies revised its rating on October 13, 2023. It rated FTI as “a Hold” which previously was an “a Buy”.

Price Performance Review of FTI

On Friday, TechnipFMC plc [NYSE:FTI] saw its stock fall -0.86% to $26.60. Over the last five days, the stock has gained 2.47%. TechnipFMC plc shares have risen nearly 32.08% since the year began. Nevertheless, the stocks have risen 87.99% over the past one year. While a 52-week high of $27.30 was reached on 05/09/24, a 52-week low of $13.11 was recorded on 01/10/24. SMA at 50 days reached $25.15, while 200 days put it at $21.24. A total of 2.36 million shares were traded, compared to the trading of 3.01 million shares in the previous session.

Levels Of Support And Resistance For FTI Stock

The 24-hour chart illustrates a support level at 26.30, which if violated will result in even more drops to 26.01. On the upside, there is a resistance level at 27.01. A further resistance level may holdings at 27.43. The Relative Strength Index (RSI) on the 14-day chart is 58.85, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.44, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 33.25%. Stochastics %K at 76.36% indicates the stock is a holding.

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