Short Interest in Snam S.p.A. (OTCMKTS:SNMRY) Declines By 90.7%

Snam S.p.A. (OTCMKTS:SNMRY) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 1,044 shares, a drop of 90.7% from the July 15th total of 11,209 shares. Based on an average daily volume of 104,678 shares, the days-to-cover ratio is currently 0.0 days.

Analysts Set New Price Targets

Separately, Kepler Capital Markets cut shares of Snam from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Snam Price Performance

SNMRY stock traded up $0.07 during trading on Thursday, reaching $13.29. 18,508 shares of the company were exchanged, compared to its average volume of 59,021. The company has a 50-day moving average of $14.14 and a two-hundred day moving average of $14.62. Snam has a twelve month low of $11.64 and a twelve month high of $16.01.

About Snam

Snam S.p.A. is an Italian natural gas infrastructure company specializing in the transportation, storage and regasification of natural gas. Headquartered in San Donato Milanese, near Milan, Snam operates one of the largest gas pipeline networks in Europe, overseeing both high-pressure transmission lines and interconnection points that link the Italian system with broader continental markets. The company’s core business activities encompass the development, maintenance and operation of gas transport facilities, as well as the balancing and dispatching services that ensure a reliable energy supply.

Founded in 1941 as the gas transportation arm of ENI, Società Nazionale Metanodotti was reorganized under its current name and structure in 2001, when it became an independent concessionaire and a publicly listed entity on the Milan Stock Exchange.