Saipem SpA (OTCMKTS:SAPMY) Short Interest Down 80.5% in May

Saipem SpA (OTCMKTS:SAPMY) was the target of a large decline in short interest in the month of May. As of May 28th, there was short interest totalling 800 shares, a decline of 80.5% from the May 13th total of 4,100 shares. Based on an average daily volume of 6,800 shares, the days-to-cover ratio is presently 0.1 days.

SAPMY has been the subject of a number of recent research reports. HSBC downgraded Saipem from a “buy” rating to a “hold” rating in a research note on Tuesday, March 23rd. Morgan Stanley reiterated an “equal weight” rating on shares of Saipem in a research report on Friday, April 16th. Berenberg Bank downgraded Saipem from a “buy” rating to a “hold” rating in a research report on Wednesday, March 3rd. Barclays reiterated an “equal weight” rating on shares of Saipem in a report on Thursday, April 29th. Finally, Exane BNP Paribas cut Saipem from a “neutral” rating to an “underperform” rating in a research note on Friday, February 26th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Saipem has a consensus rating of “Hold”.

Shares of Saipem stock remained flat at $$5.25 on Friday. The company’s 50-day simple moving average is $5.14. Saipem has a fifty-two week low of $3.16 and a fifty-two week high of $6.47.

About Saipem

Saipem SpA engages in the engineering, procurement, and construction of projects in the energy and infrastructure sectors worldwide. The company operates through five divisions: Offshore Engineering & Construction (E&C), Onshore Engineering & Construction, Offshore Drilling, Onshore Drilling, and XSIGHT.

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