Short Interest in Saipem SpA (OTCMKTS:SAPMY) Declines By 71.4%

Saipem SpA (OTCMKTS:SAPMY) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 200 shares, a drop of 71.4% from the December 15th total of 700 shares. Based on an average trading volume of 500 shares, the short-interest ratio is currently 0.4 days.

Shares of Saipem stock remained flat at $$5.44 during trading on Wednesday. The company had a trading volume of 60 shares, compared to its average volume of 11,166. Saipem has a 12-month low of $3.16 and a 12-month high of $10.02. The business’s 50-day simple moving average is $5.20 and its 200 day simple moving average is $4.42.

Several equities research analysts have recently weighed in on the company. Morgan Stanley reissued an “equal weight” rating on shares of Saipem in a research report on Tuesday, November 17th. The Goldman Sachs Group upgraded Saipem from a “neutral” rating to a “buy” rating in a research note on Monday, November 2nd. Jefferies Financial Group downgraded Saipem from a “hold” rating to an “underperform” rating in a research note on Wednesday, November 11th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Saipem in a research note on Wednesday, January 6th. Finally, Credit Suisse Group restated an “underperform” rating on shares of Saipem in a research note on Monday, October 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold”.

About Saipem

Saipem SpA engages in the engineering, drilling, and construction of projects in the energy and infrastructure sectors worldwide. The company operates through five divisions: Offshore Engineering & Construction (E&C), Onshore Engineering & Construction, Offshore Drilling, Onshore Drilling, and XSIGHT.

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