Saipem (OTCMKTS:SAPMF) Shares Gap Down - What's Next?

Key Points

• Saipem shares gapped down from a previous close of $2.76 to open at $2.66, reflecting a trading volume of 175 shares.
• Royal Bank of Canada downgraded Saipem from a "moderate buy" to a "hold" rating, affecting investor sentiment.
• The stock currently holds a consensus rating of "Buy" with one analyst giving it a Strong Buy rating and one a Hold rating.

Saipem (OTCMKTS:SAPMF - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $2.76, but opened at $2.66. Saipem shares last traded at $2.66, with a volume of 175 shares changing hands.

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 given a Hold rating to the stock. According to data from MarketBeat, Saipem currently has a consensus rating of "Buy".

Saipem Stock Performance

The business's 50 day moving average price is $2.74 and its two-hundred day moving average price is $2.47. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 0.69.

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.