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

Saipem SpA (OTCMKTS:SAPMY) was the recipient of a large decrease in short interest in the month of October. As of October 30th, there was short interest totaling 17,182 shares, a decrease of 76.3% from the October 15th total of 72,641 shares. Based on an average daily trading volume, of 11,997 shares, the short-interest ratio is currently 1.4 days.

Saipem Price Performance

SAPMY stock remained flat at $0.93 during midday trading on Friday. 192 shares of the company’s stock traded hands, compared to its average volume of 18,674. Saipem has a 52 week low of $0.44 and a 52 week high of $1.25. The firm has a 50-day moving average of $0.96 and a 200-day moving average of $0.93.

Saipem Company Profile

Saipem S.p.A. is an Italian engineering and construction company that provides services to the energy industry. Its activities cover the design, construction, installation and maintenance of complex infrastructure for offshore and onshore oil and gas projects, as well as selected projects related to energy transition. The company’s capabilities include offshore engineering and construction, subsea services, pipeline installation, drilling, fabrication and large-scale project management. Saipem also participates in projects involving offshore wind, carbon capture and storage, hydrogen, and other lower-carbon energy technologies, alongside its traditional hydrocarbon-related activities.