Saipem SpA (OTCMKTS:SAPMF) Sees Significant Increase in Short Interest

Saipem SpA (OTCMKTS:SAPMF) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 19,657,600 shares, a growth of 37.3% from the August 31st total of 14,314,300 shares. Based on an average trading volume of 500 shares, the days-to-cover ratio is currently 39,315.2 days.

Saipem Stock Performance

Shares of SAPMF remained flat at $2.21 during mid-day trading on Friday. Saipem has a one year low of $1.31 and a one year high of $2.58. The firm’s 50-day moving average price is $2.28 and its 200-day moving average price is $2.35.

Saipem Company Profile

Saipem SpA provides energy and infrastructure solutions worldwide. The company operates through divisions Offshore Engineering & Construction (E&C), Onshore Engineering & Construction, and Offshore Drilling. It offers development of subsea fields and pipelaying; installation and lifting of offshore structures; and engineering, implementation, installation, maintenance, modification, and decommissioning activities.