Short Interest in Saipem SpA (OTCMKTS:SAPMF) Expands By 30.5%

Saipem SpA (OTCMKTS:SAPMF) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 34,983,300 shares, a growth of 30.5% from the March 15th total of 26,807,400 shares. Based on an average daily trading volume, of 100 shares, the short-interest ratio is currently 349,833.0 days. Currently, 1.8% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Saipem Price Performance

SAPMF stock opened at $1.81 on Friday. The firm has a fifty day moving average price of $2.19 and a 200 day moving average price of $2.37. Saipem has a fifty-two week low of $1.81 and a fifty-two week high of $2.84.

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.