Short Interest in Saipem SpA (OTCMKTS:SAPMY) Grows By 75.5%

Saipem SpA (OTCMKTS:SAPMY) was the recipient of a large increase in short interest in February. As of February 27th, there was short interest totaling 24,246 shares, an increase of 75.5% from the February 12th total of 13,814 shares. Based on an average trading volume of 17,583 shares, the days-to-cover ratio is presently 1.4 days. Based on an average trading volume of 17,583 shares, the days-to-cover ratio is presently 1.4 days.

Saipem Price Performance

Shares of SAPMY stock remained flat at $0.77 on Friday. 10,021 shares of the stock traded hands, compared to its average volume of 9,435. The company’s 50-day moving average is $0.69 and its 200 day moving average is $0.58. Saipem has a 52 week low of $0.31 and a 52 week high of $0.85.

Saipem Company Profile

Saipem SpA (OTCMKTS: SAPMY) is a leading global engineering and construction contractor specializing in the energy and infrastructure sectors. Headquartered in San Donato Milanese, Italy, the company delivers complex onshore and offshore projects for oil & gas, petrochemical, and power generation clients. Saipem’s integrated services span engineering, procurement, construction, installation and commissioning phases, allowing it to manage projects from feasibility studies through final handover.

The company’s project portfolio includes subsea pipelines, fixed and floating production platforms, LNG facilities, refineries and petrochemical plants, as well as drilling services.