Saipem (OTCMKTS: SAPMF) upgraded to “Hold” at Zacks Investment Research

Saipem (OTCMKTS: SAPMFGet a rating) has been updated by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report released Tuesday to clients and investors, reports.

According to Zacks, “Saipem SpA provides drilling services as well as engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, primarily in the oil and gas market. Saipem SpA is headquartered in Milan, Italy.”

Shares of Saipem stock traded down $0.05 during Tuesday trading hours, hitting $1.24. 525 shares of the company were traded, against an average volume of 5,331. Saipem has a 52-week low of $1.07 and a 52-week high of $2.85. The company has a fifty-day moving average of $1.22 and a 200-day moving average of $1.70.

About Saipem (Get a rating)

Saipem SpA provides energy and infrastructure solutions worldwide. The company operates through five divisions: Offshore Engineering & Construction (E&C), Onshore Engineering & Construction, Offshore Drilling, Onshore Drilling and XSIGHT. It offers engineering, construction, installation of platforms, pipelines, subsea fields, maintenance, modification, operation and dismantling, as well as the development of offshore wind farms and energy integration projects.

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