Saipem (OTCMKTS:SAPMF) Shares Gap Down - Time to Sell?

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) shares 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 trading hands.

Analysts Set New Price Targets

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

Saipem Trading Down 3.8%

The stock has a 50-day moving average of $2.75 and a 200 day moving average of $2.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 1.09.

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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