Snam S.p.A. (OTCMKTS:SNMRF) Short Interest Update

Snam S.p.A. (OTCMKTS:SNMRF) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 12,558,166 shares, a growth of 70.9% from the June 30th total of 7,349,207 shares. Based on an average trading volume of 12,293 shares, the short-interest ratio is presently 1,021.6 days.

Snam Stock Performance

Snam stock opened at $7.35 on Friday. The stock has a 50-day moving average price of $7.37 and a two-hundred day moving average price of $7.25. Snam has a 12 month low of $5.94 and a 12 month high of $8.12.

Analysts Set New Price Targets

Separately, Morgan Stanley restated an “underweight” rating on shares of Snam in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Snam Company Profile

Snam S.p.A., traded over the OTC under the ticker SNMRF, is a leading European energy infrastructure company headquartered in Milan, Italy. Its core business centers on the transportation, storage and regasification of natural gas through an extensive network of high-pressure pipelines. As one of the largest gas grid operators in Europe, Snam plays a critical role in ensuring security of supply and reliable delivery of energy to industrial, commercial and residential consumers across its service regions.

The company’s primary portfolio includes the operation of an integrated network of transmission pipelines, strategic underground storage facilities and liquefied natural gas (LNG) terminals.