Saipem (OTCMKTS:SAPMF) Sees Large Volume Increase - Time to Buy?

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.

Saipem (OTCMKTS:SAPMF - Get Free Report) saw strong trading volume on Friday . 5,000 shares traded hands during 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 assigned a Hold rating to the stock. According to MarketBeat.com, Saipem presently has an average rating of "Buy".

Saipem Stock Performance

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 $2.75 and a 200-day moving average price of $2.48.

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.