SBM Offshore (OTCMKTS:SBFFF) Stock Price Up 20.7% – Here’s What Happened

SBM Offshore (OTCMKTS:SBFFF) shares rose 20.7% during trading on Tuesday . The company traded as high as $33.1975 and last traded at $32.41. Approximately 700 shares changed hands 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 Stock Up 20.7%

The firm has a 50 day moving average price of $27.78 and a two-hundred day moving average price of $27.13.

SBM Offshore Company Profile

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.