Saipem (OTCMKTS:SAPMF) Sets New 52-Week High – Here’s Why

Saipem (OTCMKTS:SAPMF)’s stock price reached a new 52-week high on Friday . The company traded as high as $4.20 and last traded at $4.20, with a volume of 1000 shares trading hands. The stock had previously closed at $3.9050.

Analyst Upgrades and Downgrades

Separately, Kepler Capital Markets raised shares of Saipem to a “strong-buy” rating in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Saipem currently has an average rating of “Buy”.

Saipem Stock Performance

The stock has a 50-day simple moving average of $3.33 and a 200 day simple moving average of $2.95.

About Saipem

Saipem is a leading global engineering and construction company specializing in upstream, midstream and downstream projects for the oil and gas industry. The company offers a full suite of services including engineering, procurement, construction and installation (EPCI) for onshore and offshore facilities, as well as specialized drilling services. Its expertise spans the development of floating production units, subsea pipelines, and complex petrochemical plants, catering to major energy producers and national oil companies around the world.

In addition to its core oil and gas portfolio, Saipem has expanded into renewable energy and infrastructure markets, leveraging its engineering capabilities in areas such as offshore wind, hydrogen, and carbon capture and storage.