Short Interest in Saipem SpA (OTCMKTS:SAPMF) Rises By 57.8%

Saipem SpA (OTCMKTS:SAPMF) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 14,591,800 shares, a growth of 57.8% from the February 13th total of 9,249,300 shares. Based on an average daily trading volume, of 200 shares, the short-interest ratio is presently 72,959.0 days. Currently, 0.7% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Kepler Capital Markets upgraded Saipem from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th.

Saipem Stock Performance

OTCMKTS:SAPMF opened at $2.16 on Friday. The stock’s 50 day moving average price is $2.51 and its two-hundred day moving average price is $2.40. Saipem has a 12-month low of $1.98 and a 12-month high of $2.84.

Saipem Company Profile

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.