Saipem (OTCMKTS:SAPMF) Short Interest Up 112.2% in July

Saipem (OTCMKTS:SAPMF) saw a significant growth in short interest in 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 daily volume of 1,464 shares, the days-to-cover ratio is currently 16,238.8 days. Currently, 1.2% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Saipem to a “hold” rating in a research note 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Saipem Price Performance

SAPMF stock opened at $4.81 on Tuesday. Saipem has a one year low of $2.50 and a one year high of $5.70. The company’s 50 day moving average price is $5.02 and its two-hundred day moving average price is $4.46.

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.