Saipem SpA (OTCMKTS:SAPMY) Sees Large Growth in Short Interest

Saipem SpA (OTCMKTS:SAPMY) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 65,260 shares, a growth of 340.9% from the June 15th total of 14,803 shares. Based on an average trading volume of 17,523 shares, the days-to-cover ratio is currently 3.7 days.

Saipem Trading Up 3.4%

Saipem stock traded up $0.03 during mid-day trading on Friday, hitting $1.03. The company had a trading volume of 1,179 shares, compared to its average volume of 24,739. Saipem has a 12-month low of $0.42 and a 12-month high of $1.25. The company’s fifty day moving average is $1.00 and its 200-day moving average is $0.84.

About Saipem

Saipem SpA (OTCMKTS: SAPMY) is a leading global engineering and construction contractor specializing in the energy and infrastructure sectors. Headquartered in San Donato Milanese, Italy, the company delivers complex onshore and offshore projects for oil & gas, petrochemical, and power generation clients. Saipem’s integrated services span engineering, procurement, construction, installation and commissioning phases, allowing it to manage projects from feasibility studies through final handover.

The company’s project portfolio includes subsea pipelines, fixed and floating production platforms, LNG facilities, refineries and petrochemical plants, as well as drilling services.