Saipem (OTCMKTS:SAPMF) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Saipem experienced a 19% increase in trading volume with approximately 2,000 shares traded, marking a rise from the previous session's 1,682 shares.
• Royal Bank of Canada downgraded Saipem's rating from a "moderate buy" to a "hold," while the company has an average rating of "Buy" across analysts.
• The stock is currently trading at $2.75, reflecting a 2.2% increase from its prior close of $2.69.

Saipem (OTCMKTS:SAPMF - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 2,000 shares changed hands during mid-day trading, an increase of 19% from the previous session's volume of 1,682 shares.The stock last traded at $2.75 and had previously closed at $2.69.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada cut Saipem from a "moderate buy" rating to a "hold" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy".

Saipem Trading Up 2.2%

The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average price of $2.72 and a two-hundred day moving average price of $2.43.

Saipem Company Profile

Saipem SpA provides energy and infrastructure solutions worldwide. The company operates through Asset Based Services, Offshore Drilling, and Energy Carriers segments. It offers development of subsea fields and pipelaying; installation and lifting of offshore structures; and engineering, implementation, installation, maintenance, modification, and decommissioning activities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.