Short Interest in Snam S.p.A. (OTCMKTS:SNMRY) Expands By 724,533.3%

Snam S.p.A. (OTCMKTS:SNMRY) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 21,739 shares, a growth of 724,533.3% from the June 15th total of 3 shares. Based on an average trading volume of 118,128 shares, the days-to-cover ratio is currently 0.2 days.

Snam Price Performance

Shares of Snam stock remained flat at $14.01 during mid-day trading on Friday. 27,375 shares of the company’s stock traded hands, compared to its average volume of 59,438. Snam has a one year low of $11.47 and a one year high of $16.01. The stock has a fifty day moving average of $14.63 and a 200-day moving average of $14.54.

Wall Street Analysts Forecast Growth

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 analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Snam presently has a consensus rating of “Moderate Buy”.

Snam Company Profile

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.