Short Interest in Saipem SpA (OTCMKTS:SAPMF) Increases By 24.4%

Saipem SpA (OTCMKTS:SAPMF - Get Free Report) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 9,249,300 shares, a growth of 24.4% from the January 31st total of 7,434,500 shares. Based on an average daily volume of 100 shares, the short-interest ratio is presently 92,493.0 days.

Wall Street Analyst Weigh In

Separately, Kepler Capital Markets raised Saipem from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th.

Saipem Price Performance

Shares of OTCMKTS SAPMF remained flat at $2.20 during midday trading on Friday. Saipem has a 12-month low of $1.98 and a 12-month high of $2.84. The stock has a 50-day simple moving average of $2.54 and a 200-day simple moving average of $2.40.

Saipem Company Profile

Saipem SpA provides energy and infrastructure solutions worldwide. The company operates through Asset Based Services, Offshore Drilling, and Energy Carriers segments. It offers development of subsea fields and pipelaying; installation and lifting of offshore structures; and engineering, implementation, installation, maintenance, modification, and decommissioning activities.