Saipem (OTCMKTS:SAPMF) Shares Gap Up - Still a Buy?

Key Points

• Saipem's shares experienced a gap up, opening at $2.74 after closing at $2.66, with a trading volume of 10,740 shares.
• Royal Bank of Canada has downgraded Saipem from a "moderate buy" to a "hold" rating, although the consensus rating remains a "Buy".
• The company's recent trading performance shows a 3.2% increase, with a fifty-day moving average price of $2.74.

Saipem (OTCMKTS:SAPMF - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $2.66, but opened at $2.74. Saipem shares last traded at $2.74, with a volume of 10,740 shares trading hands.

Analysts Set New Price Targets

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

Saipem Stock Up 2.2%

The stock has a fifty day moving average of $2.75 and a 200-day moving average of $2.48. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 0.69.

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.