Saipem (OTCMKTS:SAPMF) Short Interest Update

Saipem (OTCMKTS:SAPMF) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 24,450,700 shares, an increase of 36.1% from the September 30th total of 17,965,400 shares. Based on an average daily volume of 13,200 shares, the short-interest ratio is currently 1,852.3 days. Approximately 1.2% of the shares of the company are short sold. Approximately 1.2% of the shares of the company are short sold. Based on an average daily volume of 13,200 shares, the short-interest ratio is currently 1,852.3 days.

Saipem Stock Down 2.7%

OTCMKTS SAPMF traded down $0.07 during trading hours on Monday, reaching $2.54. 300 shares of the company’s stock were exchanged, compared to its average volume of 2,587. The firm has a fifty day moving average of $2.79 and a 200-day moving average of $2.65. Saipem has a one year low of $1.81 and a one year high of $3.02.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Royal Bank Of Canada lowered Saipem from a “moderate buy” rating to a “hold” rating in a report on Friday, August 1st. Citigroup raised shares of Saipem to a “strong-buy” rating in a report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Saipem currently has an average rating of “Buy”.

Saipem Company Profile

Saipem SpA provides energy and infrastructure solutions worldwide. The company operates through Asset Based Services, Offshore Drilling, and Energy Carriers segments. It offers development of subsea fields and pipelaying; installation and lifting of offshore structures; and engineering, implementation, installation, maintenance, modification, and decommissioning activities.