Short Interest in Saipem SpA (OTCMKTS:SAPMY) Increases By 340.9%

Saipem SpA (OTCMKTS:SAPMY) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 65,260 shares, an increase of 340.9% from the June 15th total of 14,803 shares. Based on an average trading volume of 17,523 shares, the short-interest ratio is presently 3.7 days.

Saipem Price Performance

Shares of Saipem stock traded down $0.05 on Monday, reaching $0.98. The company had a trading volume of 2,458 shares, compared to its average volume of 24,541. The firm’s 50-day moving average price is $1.00 and its two-hundred day moving average price is $0.85. Saipem has a 1 year low of $0.42 and a 1 year high of $1.25.

About Saipem

Saipem SpA (OTCMKTS: SAPMY) is a leading global engineering and construction contractor specializing in the energy and infrastructure sectors. Headquartered in San Donato Milanese, Italy, the company delivers complex onshore and offshore projects for oil & gas, petrochemical, and power generation clients. Saipem’s integrated services span engineering, procurement, construction, installation and commissioning phases, allowing it to manage projects from feasibility studies through final handover.

The company’s project portfolio includes subsea pipelines, fixed and floating production platforms, LNG facilities, refineries and petrochemical plants, as well as drilling services.