Saipem SpA (OTCMKTS:SAPMF) sees sharp decline in short-term interest

Saipem SpA (OTCMKTS: SAPMFGet a rating) saw a significant decline in short interest in May. As of May 31, there was selling interest totaling 386,500 shares, down 81.3% from the May 15 total of 2,068,200 shares. Based on an average trading volume of 100 shares, the short-term interest rate ratio is currently 3,865.0 days.

Separately, Zacks Investment Research upgraded Saipem’s shares from a “sell” to a “hold” rating in a Friday, May 20 research report.

Shares of Saipem stock held steady at $6.00 during Friday trading hours. The stock has a 50-day simple moving average of $6.86 and a 200-day simple moving average of $7.66. Saipem has a 1-year low of $1.07 and a 1-year high of $6.04.

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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