Saipem SpA (OTCMKTS:SAPMY) Sees Significant Decrease in Short Interest

Saipem SpA (OTCMKTS:SAPMY – Get Free Report) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 35,712 shares, a drop of 71.7% from the April 30th total of 126,224 shares. Based on an average daily volume of 43,733 shares, the short-interest ratio is presently 0.8 days.

Saipem Stock Up 1.8%

Shares of OTCMKTS:SAPMY opened at $0.95 on Friday. Saipem has a 12-month low of $0.42 and a 12-month high of $1.25. The business has a fifty day simple moving average of $0.96 and a 200 day simple moving average of $0.74.

About Saipem

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Saipem SpA (OTCMKTS: SAPMY) is a leading global engineering and construction contractor specializing in the energy and infrastructure sectors. Headquartered in San Donato Milanese, Italy, the company delivers complex onshore and offshore projects for oil & gas, petrochemical, and power generation clients. Saipem’s integrated services span engineering, procurement, construction, installation and commissioning phases, allowing it to manage projects from feasibility studies through final handover.

The company’s project portfolio includes subsea pipelines, fixed and floating production platforms, LNG facilities, refineries and petrochemical plants, as well as drilling services.

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