Saipem (OTCMKTS:SAPMF) Short Interest Up 112.2% in July

Saipem (OTCMKTS:SAPMF – Get Free Report) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 23,773,542 shares, a growth of 112.2% from the June 30th total of 11,200,784 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average trading volume of 1,464 shares, the days-to-cover ratio is currently 16,238.8 days.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Saipem to a “hold” rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Saipem has a consensus rating of “Buy”.

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Saipem Price Performance

OTCMKTS SAPMF remained flat at $4.50 during mid-day trading on Thursday. The company’s stock had a trading volume of 1,000 shares, compared to its average volume of 1,368. Saipem has a 12-month low of $2.50 and a 12-month high of $5.70. The firm’s fifty day simple moving average is $4.98 and its two-hundred day simple moving average is $4.48.

Saipem Company Profile

(Get Free Report)

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.

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