Saipem (OTCMKTS:SAPMF) Short Interest Up 112.2% in July

Saipem (OTCMKTS:SAPMF) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 23,773,542 shares, an increase of 112.2% from the June 30th total of 11,200,784 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,464 shares, the short-interest ratio is currently 16,238.8 days.

Saipem Stock Down 3.8%

Saipem stock opened at $4.81 on Tuesday. The firm’s 50 day simple moving average is $5.02 and its 200 day simple moving average is $4.46. Saipem has a 1-year low of $2.50 and a 1-year high of $5.70.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Saipem to a “hold” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Saipem currently has a consensus rating of “Buy”.

About Saipem

Saipem is a leading global engineering and construction company specializing in upstream, midstream and downstream projects for the oil and gas industry. The company offers a full suite of services including engineering, procurement, construction and installation (EPCI) for onshore and offshore facilities, as well as specialized drilling services. Its expertise spans the development of floating production units, subsea pipelines, and complex petrochemical plants, catering to major energy producers and national oil companies around the world.

In addition to its core oil and gas portfolio, Saipem has expanded into renewable energy and infrastructure markets, leveraging its engineering capabilities in areas such as offshore wind, hydrogen, and carbon capture and storage.