Snam S.p.A. (OTCMKTS:SNMRY) Sees Significant Growth in Short Interest

Snam S.p.A. (OTCMKTS:SNMRY) was the recipient of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 15,264 shares, a growth of 1,362.1% from the July 30th total of 1,044 shares. Based on an average daily volume of 101,759 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Kepler Capital Markets downgraded Snam from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Snam Price Performance

OTCMKTS:SNMRY opened at $13.68 on Wednesday. The stock has a 50-day simple moving average of $13.92 and a 200-day simple moving average of $14.60. Snam has a 1 year low of $11.64 and a 1 year high of $16.01.

Snam Company Profile

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.