SBM Offshore (OTCMKTS:SBFFF – Get Free Report) shares rose 20.7% during mid-day trading on Tuesday . The company traded as high as $33.1975 and last traded at $32.41. Approximately 700 shares were traded during trading, a decline of 41% from the average daily volume of 1,195 shares. The stock had previously closed at $26.85.
SBM Offshore Price Performance
The firm has a 50-day moving average of $27.78 and a 200 day moving average of $27.13.
About SBM Offshore
SBM Offshore is a global developer and operator of floating production solutions for the offshore energy industry. The company specialises in the design, engineering, construction, installation and operation of floating production storage and offloading (FPSO) vessels, turret mooring systems and single-point mooring (SPM) buoys. These assets enable oil and gas producers to exploit deepwater and remote hydrocarbon reserves by converting production fluids into marketable oil and gas, while storing and offloading cargo to shuttle tankers.
Headquartered in Schiedam, the Netherlands, SBM Offshore traces its origins back to the 1960s when the first turret-moored production vessel concept was demonstrated.
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