The stock of CGG SA (ADR) (NYSE:CGG) hit a new 52-week low and has $12.21 target or 11.00% below today’s $13.72 share price. The 6 months bearish chart indicates high risk for the $280.34 million company. The 1-year low was reported on Nov, 21 by Barchart.com. If the $12.21 price target is reached, the company will be worth $30.84 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 17,863 shares traded hands or 222.38% up from the average. CGG SA (ADR) (NYSE:CGG) has declined 52.44% since April 19, 2016 and is downtrending. It has underperformed by 56.30% the S&P500.
According to Zacks Investment Research, “CGG operates as a Geoscience company. It provides geophysical services and software products and manufactures geophysical equipment. The Company primarily operates in the Americas, Asia-Pacific, Europe, the former Soviet Union, and Africa. CGG is based in France.”
More news for CGG SA (ADR) (NYSE:CGG) were recently published by: Quotes.Wsj.com, which released: “CGG ADR CGG (US: NYSE)” on February 16, 2011. Businesswire.com‘s article titled: “Neos to Acquire the Multi-Physics Business from CGG” and published on April 29, 2016 is yet another important article.
CGG Company Profile
CGG SA (CGG), incorporated on March 30, 1984, is a maker of geophysical equipment. The Firm is a well-known provider of marine, land and airborne data acquisition services. The Firm is a well-known provider of a range of other geoscience services, including data imaging, seismic data characterization, geoscience and petroleum engineering consulting services, and collecting, developing and licensing geological data. The Company’s clients include independent, international and national oil companies. The Company’s business lines include Equipment, Marine Acquisition, Land Acquisition, Multi-Physics, Multi-Client and New Ventures, Subsurface Imaging, GeoSoftware and GeoConsulting. The Firm operates through four divisions: Contractual Data Acquisition; Geology, Geophysics & Reservoir (GGR); Equipment, and Non-Operated Resources. The Contractual Data Acquisition includes marine, and land and multi-physics. The GGR segment includes the Multi-client business line (development and management of seismic surveys that it undertakes and licenses to a range of clients on a non-exclusive basis) and the Subsurface Imaging and Reservoir business lines (processing and imaging of geophysical data, reservoir characterization, geophysical consulting and software services, geological data library and data management solutions). The Equipment segment consists of its manufacturing and sales activities for seismic equipment used for data acquisition, both on land and marine. The Non-Operated Resources segment consists of the costs of the non-operated marine resources, as well as all the costs of its Transformation Plan.
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