Snam S.p.A. (OTCMKTS:SNMRF) Short Interest Up 70.9% in July

Snam S.p.A. (OTCMKTS:SNMRF) saw a large growth in short interest during the month of 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 daily volume of 12,293 shares, the days-to-cover ratio is currently 1,021.6 days.

Snam Stock Performance

OTCMKTS:SNMRF opened at $7.35 on Friday. The firm’s 50 day simple moving average is $7.36 and its 200 day simple moving average is $7.25. Snam has a one year low of $5.94 and a one year high of $8.12.

Analyst Ratings Changes

Separately, Morgan Stanley reiterated an “underweight” rating on shares of Snam in a research report on Wednesday, April 8th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

About Snam

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.