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

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

Analyst Upgrades and Downgrades

Separately, Barclays upgraded 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

SBM Offshore Stock Performance

The company’s fifty day moving average price is $41.24 and its two-hundred day moving average price 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.