Saipem (OTCMKTS:SAPMF) Trading Up 6.5% on Analyst Upgrade

Saipem (OTCMKTS:SAPMF) shot up 6.5% during mid-day trading on Tuesday after Kepler Capital Markets upgraded the stock to a strong-buy rating. The company traded as high as $2.8850 and last traded at $2.8850. 1,500 shares traded hands during trading, a decline of 57% from the average session volume of 3,513 shares. The stock had previously closed at $2.71.

Separately, Citigroup upgraded Saipem to a “strong-buy” rating in a report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Saipem has an average rating of “Buy”.

Saipem Price Performance

The business has a fifty day moving average of $2.70 and a two-hundred day moving average of $2.74.

Saipem Company Profile

Saipem is a leading global engineering and construction company specializing in upstream, midstream and downstream projects for the oil and gas industry. The company offers a full suite of services including engineering, procurement, construction and installation (EPCI) for onshore and offshore facilities, as well as specialized drilling services. Its expertise spans the development of floating production units, subsea pipelines, and complex petrochemical plants, catering to major energy producers and national oil companies around the world.

In addition to its core oil and gas portfolio, Saipem has expanded into renewable energy and infrastructure markets, leveraging its engineering capabilities in areas such as offshore wind, hydrogen, and carbon capture and storage.