Short Interest in Snam S.p.A. (OTCMKTS:SNMRY) Declines By 74.9%

Snam S.p.A. (OTCMKTS:SNMRY) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totaling 12,838 shares, a decline of 74.9% from the April 30th total of 51,214 shares. Based on an average trading volume of 127,897 shares, the days-to-cover ratio is presently 0.1 days.

Snam Price Performance

OTCMKTS SNMRY traded down $0.04 on Friday, hitting $14.48. 33,013 shares of the company were exchanged, compared to its average volume of 60,775. The company’s 50 day moving average price is $15.14 and its 200-day moving average price is $14.26. Snam has a twelve month low of $11.47 and a twelve month high of $16.01.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNMRY. Kepler Capital Markets cut shares of Snam from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. The Goldman Sachs Group upgraded Snam to a “strong-buy” rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold”.

About Snam

Snam S.p.A. is an Italian natural gas infrastructure company specializing in the transportation, storage and regasification of natural gas. Headquartered in San Donato Milanese, near Milan, Snam operates one of the largest gas pipeline networks in Europe, overseeing both high-pressure transmission lines and interconnection points that link the Italian system with broader continental markets. The company’s core business activities encompass the development, maintenance and operation of gas transport facilities, as well as the balancing and dispatching services that ensure a reliable energy supply.

Founded in 1941 as the gas transportation arm of ENI, Società Nazionale Metanodotti was reorganized under its current name and structure in 2001, when it became an independent concessionaire and a publicly listed entity on the Milan Stock Exchange.