Snam S.p.A. (OTCMKTS:SNMRY) Sees Significant Decrease in Short Interest

Snam S.p.A. (OTCMKTS:SNMRY) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totaling 12,838 shares, a decline of 74.9% from the April 30th total of 51,214 shares. Based on an average trading volume of 127,897 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SNMRY. Kepler Capital Markets downgraded Snam from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. The Goldman Sachs Group raised Snam to a “strong-buy” rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Snam Stock Down 0.8%

OTCMKTS SNMRY traded down $0.11 during trading on Friday, hitting $14.41. 33,013 shares of the company’s stock were exchanged, compared to its average volume of 60,869. Snam has a fifty-two week low of $11.47 and a fifty-two week high of $16.01. The stock’s 50 day moving average price is $15.13 and its two-hundred day moving average price is $14.26.

About Snam

Snam S.p.A. is an Italian natural gas infrastructure company specializing in the transportation, storage and regasification of natural gas. Headquartered in San Donato Milanese, near Milan, Snam operates one of the largest gas pipeline networks in Europe, overseeing both high-pressure transmission lines and interconnection points that link the Italian system with broader continental markets. The company’s core business activities encompass the development, maintenance and operation of gas transport facilities, as well as the balancing and dispatching services that ensure a reliable energy supply.

Founded in 1941 as the gas transportation arm of ENI, Società Nazionale Metanodotti was reorganized under its current name and structure in 2001, when it became an independent concessionaire and a publicly listed entity on the Milan Stock Exchange.