Saipem (OTCMKTS:SAPMF) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Saipem (OTCMKTS:SAPMF) saw unusually-strong trading volume on Friday . Approximately 3,852 shares were traded during mid-day trading, an increase of 44% from the previous session’s volume of 2,667 shares.The stock last traded at $3.69 and had previously closed at $3.32.

Analysts Set New Price Targets

Several research firms have recently commented on SAPMF. Citigroup raised shares of Saipem to a “strong-buy” rating in a report on Monday, October 20th. Kepler Capital Markets upgraded Saipem to a “strong-buy” rating in a research report on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Saipem currently has a consensus rating of “Buy”.

Saipem Trading Up 11.1%

The company has a 50-day moving average price of $2.90 and a two-hundred day moving average price of $2.80.

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.