Saipem SpA (OTCMKTS:SAPMY) Sees Significant Decrease in Short Interest

Saipem SpA (OTCMKTS:SAPMY) was the recipient of a large drop in short interest in the month of 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 short-interest ratio is presently 0.8 days.

Saipem Trading Up 1.8%

Shares of Saipem stock opened at $0.95 on Friday. The business has a 50-day moving average price of $0.96 and a two-hundred day moving average price of $0.74. Saipem has a 1-year low of $0.42 and a 1-year high of $1.25.

About Saipem

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.