Saipem (OTCMKTS:SAPMF) Sets New 52-Week High – Here’s What Happened

Saipem (OTCMKTS:SAPMF) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $3.9050 and last traded at $3.9050, with a volume of 142 shares. The stock had previously closed at $3.7050.

Wall Street Analyst Weigh In

Several research firms have weighed in on SAPMF. Citigroup raised shares of Saipem to a “strong-buy” rating in a research note on Monday, October 20th. Kepler Capital Markets raised Saipem to a “strong-buy” rating in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Saipem Stock Down 0.3%

The company’s 50 day moving average price is $3.15 and its 200-day moving average price is $2.87.

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.