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

Key Points

• Saipem experienced a significant increase in trading volume, with 10,233 shares traded on Monday, marking a 364% rise from the previous session.
• The stock's current trading price is $2.83, with its 50-day moving average at $2.79 and the 200-day moving average at $2.57.
• Royal Bank of Canada downgraded Saipem's rating from a "moderate buy" to a "hold," while the average analyst rating remains a "buy."

Shares of Saipem (OTCMKTS:SAPMF - Get Free Report) saw strong trading volume on Monday . 10,233 shares traded hands during mid-day trading, an increase of 364% from the previous session's volume of 2,206 shares.The stock last traded at $2.83 and had previously closed at $2.83.

Analyst Ratings Changes

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

Saipem Stock Performance

The stock's 50 day simple moving average is $2.79 and its 200-day simple moving average is $2.57.

About Saipem

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.

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