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

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

Analyst Upgrades and Downgrades

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

Saipem Price Performance

SAPMF stock remained flat at $2.16 during midday trading on Friday. Saipem has a twelve month low of $1.98 and a twelve month high of $2.84. The business has a 50 day moving average of $2.50 and a 200-day moving average of $2.40.

About Saipem

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.