Saipem SpA (OTCMKTS:SAPMY) Sees Large Drop in Short Interest

Saipem SpA (OTCMKTS:SAPMY) was the recipient of a large decrease in short interest in February. As of February 13th, there was short interest totaling 13,814 shares, a decrease of 63.4% from the January 29th total of 37,751 shares. Based on an average daily volume of 15,770 shares, the short-interest ratio is currently 0.9 days. Based on an average daily volume of 15,770 shares, the short-interest ratio is currently 0.9 days.

Saipem Stock Up 4.9%

Shares of Saipem stock opened at $0.85 on Friday. The company has a fifty day moving average of $0.65 and a 200 day moving average of $0.57. Saipem has a fifty-two week low of $0.31 and a fifty-two week high of $0.85.

About Saipem

Saipem SpA (OTCMKTS: SAPMY) is a leading global engineering and construction contractor specializing in the energy and infrastructure sectors. Headquartered in San Donato Milanese, Italy, the company delivers complex onshore and offshore projects for oil & gas, petrochemical, and power generation clients. Saipem’s integrated services span engineering, procurement, construction, installation and commissioning phases, allowing it to manage projects from feasibility studies through final handover.

The company’s project portfolio includes subsea pipelines, fixed and floating production platforms, LNG facilities, refineries and petrochemical plants, as well as drilling services.