What’s Ahead for CGG (CGG) After Touching 52-Week Low?

March 19, 2018 - By Marie Mckinney

The stock of CGG (NYSE:CGG) hit a new 52-week low and has $1.85 target or 8.00 % below today’s $2.01 share price. The 7 months bearish chart indicates high risk for the $1.10 billion company. The 1-year low was reported on Mar, 19 by Barchart.com. If the $1.85 price target is reached, the company will be worth $88.08M 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.

The stock decreased 3.82% or $0.08 during the last trading session, reaching $2.01. About 79,019 shares traded or 52.88% up from the average. CGG (NYSE:CGG) has declined 77.16% since March 19, 2017 and is downtrending. It has underperformed by 93.86% the S&P500.

CGG, a geoscience company, provides data imaging, seismic data characterization, geoscience, and petroleum engineering consulting services to the gas and oil exploration and production industry in North America, the Central and South Americas, Europe, Africa, the Middle East, and the Asia Pacific. The company has market cap of $1.10 billion. It operates in Equipment; Contractual Data Acquisition; and Geology, Geophysics & Reservoir divisions. It currently has negative earnings. The Equipment segment develops and produces seismic equipment in the land and marine seismic markets, and offers customer support services.

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