Short Interest in Saipem SpA (OTCMKTS:SAPMY) Decreases By 71.7%

Saipem SpA (OTCMKTS:SAPMY) saw a large drop in short interest in May. As of May 15th, there was short interest totaling 35,712 shares, a drop of 71.7% from the April 30th total of 126,224 shares. Based on an average trading volume of 43,733 shares, the days-to-cover ratio is currently 0.8 days.

Saipem Stock Down 1.2%

Shares of SAPMY opened at $0.94 on Friday. Saipem has a twelve month low of $0.42 and a twelve month high of $1.25. The company has a 50 day moving average of $0.97 and a 200-day moving average of $0.74.

Saipem Company Profile

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.