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

Saipem SpA (OTCMKTS:SAPMF) saw 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. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 200 shares, the short-interest ratio is presently 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 Stock Performance

SAPMF opened at $2.16 on Friday. Saipem has a 52-week low of $1.98 and a 52-week high of $2.84. The business’s 50-day simple moving average is $2.51 and its 200 day simple moving average is $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.