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Saipem (OTCMKTS:SAPMF) Sees Unusually-High Trading Volume - Time to Buy?

Saipem logo with Energy background

Key Points

  • Saipem experienced a significant increase in trading volume, with approximately 5,000 shares traded, up 133% from the previous day's volume of 2,150 shares.
  • Royal Bank Of Canada downgraded Saipem from a "moderate buy" to a "hold" rating, contributing to the stock's mixed outlook from analysts.
  • The current price of Saipem shares is $2.81, reflecting a 1.3% increase, and the company has a solid financial position indicated by a debt-to-equity ratio of 0.69.
  • MarketBeat previews top five stocks to own in October.

Saipem (OTCMKTS:SAPMF - Get Free Report) saw an uptick in trading volume on Friday . 5,000 shares traded hands during mid-day trading, an increase of 133% from the previous session's volume of 2,150 shares.The stock last traded at $2.81 and had previously closed at $2.74.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Analysis on Saipem

Saipem Stock Up 2.2%

The stock has a 50-day simple moving average of $2.74 and a two-hundred day simple moving average of $2.48. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 1.09.

Saipem Company Profile

(Get Free Report)

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.

Further Reading

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