Saipem (OTCMKTS:SAPMF) Hits New 1-Year High – Here’s Why

Saipem (OTCMKTS:SAPMF) hit a new 52-week high during trading on Tuesday . The company traded as high as $3.55 and last traded at $3.51, with a volume of 2000 shares changing hands. The stock had previously closed at $3.32.

Analyst Ratings Changes

Several brokerages have commented on SAPMF. Kepler Capital Markets upgraded shares of Saipem to a “strong-buy” rating in a research note on Monday, December 22nd. Citigroup raised shares of Saipem to a “strong-buy” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Saipem Price Performance

The company has a 50-day simple moving average of $2.88 and a 200 day simple moving average of $2.79.

About Saipem

Saipem is a leading global engineering and construction company specializing in upstream, midstream and downstream projects for the oil and gas industry. The company offers a full suite of services including engineering, procurement, construction and installation (EPCI) for onshore and offshore facilities, as well as specialized drilling services. Its expertise spans the development of floating production units, subsea pipelines, and complex petrochemical plants, catering to major energy producers and national oil companies around the world.

In addition to its core oil and gas portfolio, Saipem has expanded into renewable energy and infrastructure markets, leveraging its engineering capabilities in areas such as offshore wind, hydrogen, and carbon capture and storage.