Saipem (OTCMKTS:SAPMF) Sets New 52-Week High - Here's Why

Key Points

• Saipem's share price reached a new 52-week high of $2.91 during trading, up from a previous close of $2.75.
• Royal Bank Of Canada revised its rating on Saipem from a "moderate buy" to a "hold," while overall consensus remains a "Buy" rating by analysts.
• The company's financials include a debt-to-equity ratio of 0.69 and a current ratio of 1.13, indicating stable financial health.

Saipem (OTCMKTS:SAPMF - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $2.91 and last traded at $2.91, with a volume of 500 shares. The stock had previously closed at $2.75.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada cut shares of 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy".

Saipem Price Performance

The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.09 and a current ratio of 1.13. The business has a 50 day moving average of $2.75 and a two-hundred day moving average of $2.50.

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.

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