Saipem SpA (OTCMKTS:SAPMF – Get Free Report) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 9,249,300 shares, an increase of 24.4% from the January 31st total of 7,434,500 shares. Based on an average trading volume of 100 shares, the days-to-cover ratio is presently 92,493.0 days.
Saipem Stock Performance
Shares of OTCMKTS:SAPMF opened at $2.20 on Friday. The company has a fifty day simple moving average of $2.55 and a 200 day simple moving average of $2.41. Saipem has a 12-month low of $1.98 and a 12-month high of $2.84.
Wall Street Analyst Weigh In
Separately, Kepler Capital Markets raised Saipem from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th.
About Saipem
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.
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