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 during the month of 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 daily volume of 17,583 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily volume of 17,583 shares, the days-to-cover ratio is presently 1.4 days.

Saipem Price Performance

Shares of OTCMKTS SAPMY remained flat at $0.77 during mid-day trading on Friday. The stock had a trading volume of 10,021 shares, compared to its average volume of 9,435. The stock has a 50 day moving average price of $0.69 and a 200-day moving average price of $0.58. Saipem has a 12 month low of $0.31 and a 12 month 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.