Short Interest in Saipem SpA (OTCMKTS:SAPMF) Declines By 16.2%

Saipem SpA (OTCMKTS:SAPMF) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 9,706,500 shares, a drop of 16.2% from the June 15th total of 11,582,400 shares. Based on an average trading volume of 300 shares, the days-to-cover ratio is presently 32,355.0 days.

Saipem Stock Performance

SAPMF opened at $2.45 on Monday. The stock’s 50 day simple moving average is $2.36 and its 200 day simple moving average is $2.08. Saipem has a 1 year low of $1.31 and a 1 year high of $2.58.

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.