Short Interest in Saipem SpA (OTCMKTS:SAPMF) Increases By 57.8%

Saipem SpA (OTCMKTS:SAPMF) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 14,591,800 shares, a growth of 57.8% from the February 13th total of 9,249,300 shares. Based on an average daily volume of 200 shares, the days-to-cover ratio is currently 72,959.0 days. Approximately 0.7% of the company’s stock are short sold.

Saipem Price Performance

Saipem stock remained flat at $2.16 during trading hours on Monday. Saipem has a 12-month low of $1.98 and a 12-month high of $2.84. The stock has a fifty day moving average of $2.50 and a 200 day moving average of $2.40.

Wall Street Analysts Forecast Growth

Separately, Kepler Capital Markets raised Saipem from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th.

Saipem Company Profile

Saipem SpA provides energy and infrastructure solutions worldwide. The company operates through Asset Based Services, Offshore Drilling, and Energy Carriers segments. It offers development of subsea fields and pipelaying; installation and lifting of offshore structures; and engineering, implementation, installation, maintenance, modification, and decommissioning activities.