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

Saipem SpA (OTCMKTS:SAPMY) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 61,516 shares, a growth of 58.6% from the August 31st total of 38,790 shares. Based on an average daily volume of 23,708 shares, the days-to-cover ratio is currently 2.6 days.

Saipem Price Performance

SAPMY remained flat at $0.93 during midday trading on Thursday. The company’s stock had a trading volume of 8,113 shares, compared to its average volume of 20,711. Saipem has a fifty-two week low of $0.42 and a fifty-two week high of $1.25. The firm has a 50 day moving average price of $0.98 and a two-hundred day moving average price of $0.97.

About Saipem

Saipem S.p.A. is an Italian engineering, construction and services company that develops and delivers complex infrastructure for the energy and industrial sectors. Its activities cover the design, procurement, fabrication, construction, installation and operation of facilities and systems in challenging onshore and offshore environments.

The company provides offshore engineering and construction services, subsea development, pipeline installation, offshore drilling and floating production solutions.