FMC Technologies (FTI) : Traders are bullish on FMC Technologies (FTI) as it has outperformed the S&P 500 by a wide margin of 10.29% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.73%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.7% in the last 1 week, and is up 10.71% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
FMC Technologies, Inc. is up 6.31% in the last 3-month period. Year-to-Date the stock performance stands at -0.62%. The stock has recorded a 20-day Moving Average of 11.07% and the 50-Day Moving Average is 8.92%.
FMC Technologies (NYSE:FTI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $28.85 and $28.50 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $29.05. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.83, notching a gain of 0.98% for the day. The total traded volume was 5,089,970 . The stock had closed at $28.55 on the previous day.
Also, Brokerage firm Barclays downgrades its rating on FMC Technologies (NYSE:FTI). As per the latest information, the brokerage house lowers the price target to $33 per share from a prior target of $37. The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by the firm was issued on May 20, 2016.
FMC Technologies, Inc. is a provider of technology solutions for the energy industry. The Companys segments include Subsea Technologies, Surface Technologies and Energy Infrastructure. Subsea Technologies designs and manufactures products and systems and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas. Surface Technologies designs and manufactures systems and provides services used by oil and gas companies involved in land and offshore exploration and production of crude oil and gas; designs, manufactures and supplies high pressure valves and fittings for oilfield service companies, and also provides flowback and wireline services for exploration companies. Energy Infrastructure manufactures and supplies liquid and gas measurement and transportation equipment and systems for the production, transportation and processing of crude oil, natural gas and petroleum-based refined products and the mining industry.