Snam S.p.A. (OTCMKTS:SNMRY) Sees Significant Decrease in Short Interest

Snam S.p.A. (OTCMKTS:SNMRY) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 3 shares, a decrease of 100.0% from the May 31st total of 16,962 shares. Based on an average daily trading volume, of 101,694 shares, the days-to-cover ratio is presently 0.0 days.

Snam Stock Down 1.6%

Shares of OTCMKTS:SNMRY traded down $0.23 during trading on Friday, reaching $14.07. 110,344 shares of the stock were exchanged, compared to its average volume of 60,003. Snam has a 12-month low of $11.47 and a 12-month high of $16.01. The firm’s 50-day moving average price is $14.89 and its 200 day moving average price is $14.46.

Analysts Set New Price Targets

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

Snam Company Profile

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.