Saipem SpA (OTCMKTS:SAPMY) Shares Shorted: Short Interest Up 58.6% in September

Saipem SpA (OTCMKTS:SAPMY) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 61,516 shares, a growth of 58.6% from the August 31st total of 38,790 shares. Based on an average trading volume of 23,708 shares, the short-interest ratio is presently 2.6 days.

Saipem Stock Performance

OTCMKTS:SAPMY remained flat at $0.96 during mid-day trading on Wednesday. 1,219 shares of the company were exchanged, compared to its average volume of 20,786. Saipem has a 1-year low of $0.42 and a 1-year high of $1.25. The business’s 50 day moving average is $0.98 and its two-hundred day moving average is $0.97.

About Saipem

Saipem S.p.A. is an Italian engineering, construction and services company that develops and delivers complex infrastructure for the energy and industrial sectors. Its activities cover the design, procurement, fabrication, construction, installation and operation of facilities and systems in challenging onshore and offshore environments.

The company provides offshore engineering and construction services, subsea development, pipeline installation, offshore drilling and floating production solutions.