Saipem SpA (OTCMKTS:SAPMY) Sees Large Increase in Short Interest

Saipem SpA (OTCMKTS:SAPMY) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 61,516 shares, an increase of 58.6% from the August 31st total of 38,790 shares. Based on an average trading volume of 23,708 shares, the short-interest ratio is currently 2.6 days.

Saipem Stock Performance

OTCMKTS SAPMY remained flat at $0.96 during trading on Wednesday. The company’s stock had a trading volume of 1,219 shares, compared to its average volume of 20,786. Saipem has a 12-month low of $0.42 and a 12-month high of $1.25. The firm’s fifty day moving average price is $0.98 and its 200 day moving average price is $0.97.

Saipem Company Profile

Saipem S.p.A. is an Italian engineering, construction and services company that develops and delivers complex infrastructure for the energy and industrial sectors. Its activities cover the design, procurement, fabrication, construction, installation and operation of facilities and systems in challenging onshore and offshore environments.

The company provides offshore engineering and construction services, subsea development, pipeline installation, offshore drilling and floating production solutions.