Short Interest in Snam S.p.A. (OTCMKTS:SNMRY) Increases By 1,362.1%

Snam S.p.A. (OTCMKTS:SNMRY) was the target of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 15,264 shares, a growth of 1,362.1% from the July 30th total of 1,044 shares. Based on an average daily volume of 101,759 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

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

Snam Stock Performance

OTCMKTS SNMRY traded up $0.15 on Tuesday, hitting $13.68. 50,580 shares of the company’s stock were exchanged, compared to its average volume of 59,453. The firm’s 50-day moving average price is $13.95 and its two-hundred day moving average price is $14.61. Snam has a fifty-two week low of $11.64 and a fifty-two week high of $16.01.

About Snam

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.