Saipem (OTCMKTS:SAPMF) Shares Gap Up - Here's Why

Key Points

• Saipem's stock price gapped up from $2.75 to $2.85 at market open, with a trading volume of 6,872 shares.
• Royal Bank of Canada changed Saipem’s rating from "moderate buy" to "hold," while the consensus rating remains a "Buy" from analysts.
• Saipem reported a current ratio of 1.13 and a debt-to-equity ratio of 0.69, indicating a stable financial condition.

Saipem (OTCMKTS:SAPMF - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $2.75, but opened at $2.85. Saipem shares last traded at $2.85, with a volume of 6,872 shares changing hands.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada cut shares of Saipem from a "moderate buy" rating to a "hold" rating in a research 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 data from MarketBeat.com, the company has an average rating of "Buy".

Saipem Trading Up 2.3%

The firm's 50 day moving average is $2.74 and its two-hundred day moving average is $2.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.09 and a current ratio of 1.13.

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.