Saipem (OTCMKTS:SAPMF) Short Interest Update

Saipem (OTCMKTS:SAPMF) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 23,773,542 shares, a growth of 112.2% from the June 30th total of 11,200,784 shares. Based on an average trading volume of 1,464 shares, the days-to-cover ratio is presently 16,238.8 days. Currently, 1.2% of the company’s shares are sold short.

Saipem Stock Down 6.1%

Shares of SAPMF stock opened at $4.52 on Wednesday. Saipem has a 52-week low of $2.50 and a 52-week high of $5.70. The firm’s 50 day moving average price is $5.00 and its two-hundred day moving average price is $4.47.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Saipem to a “hold” rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Saipem Company Profile

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.