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

Snam S.p.A. (OTCMKTS:SNMRY) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 11,209 shares, a decrease of 48.4% from the June 30th total of 21,739 shares. Based on an average daily volume of 110,217 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

Separately, Kepler Capital Markets cut shares of Snam from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Snam presently has a consensus rating of “Moderate Buy”.

Snam Trading Down 1.0%

Snam stock opened at $13.93 on Wednesday. Snam has a one year low of $11.47 and a one year high of $16.01. The stock has a fifty day moving average of $14.39 and a 200 day moving average of $14.62.

Snam Company Profile

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.