Saipem SpA (OTCMKTS:SAPMY) Sees Significant Decline in Short Interest

Saipem SpA (OTCMKTS:SAPMY) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 35,712 shares, a decline of 71.7% from the April 30th total of 126,224 shares. Based on an average daily volume of 43,733 shares, the days-to-cover ratio is currently 0.8 days.

Saipem Price Performance

OTCMKTS SAPMY traded down $0.01 during midday trading on Friday, hitting $0.94. The company had a trading volume of 610 shares, compared to its average volume of 29,939. The firm has a 50-day moving average price of $0.97 and a 200-day moving average price of $0.74. Saipem has a twelve month low of $0.42 and a twelve month high of $1.25.

About Saipem

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.