Snam S.p.A. (OTCMKTS:SNMRY) Sees Large Increase in Short Interest

Snam S.p.A. (OTCMKTS:SNMRY) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 21,739 shares, an increase of 724,533.3% from the June 15th total of 3 shares. Based on an average trading volume of 118,128 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Kepler Capital Markets downgraded shares of Snam from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Snam presently has a consensus rating of “Moderate Buy”.

Snam Stock Performance

Shares of OTCMKTS SNMRY remained flat at $14.01 during trading on Friday. 27,375 shares of the company’s stock traded hands, compared to its average volume of 59,438. Snam has a 52 week low of $11.47 and a 52 week high of $16.01. The stock has a 50-day moving average price of $14.63 and a two-hundred day moving average price of $14.54.

Snam Company Profile

Snam S.p.A. is an Italian natural gas infrastructure company specializing in the transportation, storage and regasification of natural gas. Headquartered in San Donato Milanese, near Milan, Snam operates one of the largest gas pipeline networks in Europe, overseeing both high-pressure transmission lines and interconnection points that link the Italian system with broader continental markets. The company’s core business activities encompass the development, maintenance and operation of gas transport facilities, as well as the balancing and dispatching services that ensure a reliable energy supply.

Founded in 1941 as the gas transportation arm of ENI, Società Nazionale Metanodotti was reorganized under its current name and structure in 2001, when it became an independent concessionaire and a publicly listed entity on the Milan Stock Exchange.