Saipem SpA (OTCMKTS:SAPMY) Short Interest Down 41.7% in March

Saipem SpA (OTCMKTS:SAPMY) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 700 shares, a decline of 41.7% from the March 15th total of 1,200 shares. Based on an average daily trading volume, of 800 shares, the short-interest ratio is presently 0.9 days.

SAPMY has been the subject of several recent analyst reports. HSBC lowered Saipem from a “buy” rating to a “hold” rating in a research report on Tuesday, March 23rd. Morgan Stanley reiterated an “equal weight” rating on shares of Saipem in a report on Tuesday, January 26th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Saipem in a report on Wednesday, January 6th. Exane BNP Paribas lowered Saipem from a “neutral” rating to an “underperform” rating in a report on Friday, February 26th. Finally, Berenberg Bank lowered Saipem from a “buy” rating to a “hold” rating in a report on Wednesday, March 3rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold”.

Shares of OTCMKTS SAPMY remained flat at $$5.63 during trading hours on Thursday. The stock’s 50 day moving average price is $5.62 and its 200-day moving average price is $4.99. Saipem has a 12 month low of $3.16 and a 12 month high of $6.47.

Saipem Company Profile

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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