Saipem (OTCMKTS:SAPMF – Get Free Report)’s share price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $4.72 and traded as low as $4.55. Saipem shares last traded at $4.6930, with a volume of 1,412 shares.
Saipem Stock Performance
The business’s 50 day simple moving average is $4.97 and its 200 day simple moving average is $4.72.
About Saipem
Saipem S.p.A. is an Italian engineering and construction company that provides services for the energy and infrastructure industries. Its activities include project management, engineering, procurement, construction, installation and maintenance for complex onshore and offshore developments.
The company operates across the energy value chain, supporting offshore and onshore oil and gas projects, drilling activities, subsea construction and pipeline infrastructure. Saipem also provides services for liquefied natural gas and other energy infrastructure projects, while expanding its capabilities in offshore wind, renewable energy and lower-carbon solutions.
Founded in 1957, Saipem developed from the construction and drilling activities associated with Italy’s energy sector and has grown into an international contractor.
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