Snam S.p.A. (OTCMKTS:SNMRY) Sees Significant Drop in Short Interest

Snam S.p.A. (OTCMKTS:SNMRY) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totaling 3 shares, a decline of 100.0% from the May 31st total of 16,962 shares. Based on an average daily volume of 101,694 shares, the short-interest ratio is currently 0.0 days.

Snam Trading Down 0.7%

Shares of Snam stock traded down $0.10 on Thursday, hitting $14.30. 62,093 shares of the company were exchanged, compared to its average volume of 59,584. The company has a 50-day moving average price of $14.93 and a 200 day moving average price of $14.46. Snam has a 1-year low of $11.47 and a 1-year high of $16.01.

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 research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

About Snam

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.