SBM Offshore (OTCMKTS:SBFFY) Stock Price Down 3.7% – Here’s What Happened

Shares of SBM Offshore (OTCMKTS:SBFFY) dropped 3.7% during mid-day trading on Friday. The stock traded as low as $38.50 and last traded at $38.50. 331 shares traded hands during trading, a decline of 79% from the average daily volume of 1,602 shares. The stock had previously closed at $40.00.

Wall Street Analysts Forecast Growth

Separately, Barclays raised SBM Offshore from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat.com, SBM Offshore presently has an average rating of “Strong Buy”.

SBM Offshore Stock Down 3.7%

The firm’s fifty day simple moving average is $41.24 and its 200 day simple moving average is $40.00.

About SBM Offshore

SBM Offshore N.V. is a Netherlands-based company that provides floating production solutions for the offshore energy industry. Its activities center on the design, construction, installation, lease and operation of floating production, storage and offloading (FPSO) vessels and other floating facilities.

The company’s FPSO solutions are used to produce, process, store and transfer oil and gas from offshore fields. SBM Offshore also provides related engineering, procurement, construction, project management, operations and maintenance services, supporting customers throughout the life cycle of offshore production projects.

SBM Offshore serves energy companies and project partners internationally, with offshore installations and activities in regions including South America, West Africa, the Middle East and Southeast Asia.