Saipem (OTCMKTS:SAPMF) Short Interest Down 27.0% in August

Key Points

• Saipem's short interest has decreased by 27.0% in August, dropping from 35,714,800 shares to 26,077,500 shares.
• Royal Bank Of Canada has downgraded Saipem's rating from "moderate buy" to "hold," while the stock still holds a consensus rating of "Buy" from analysts.
• As of Monday, Saipem's stock was trading at $2.76 with a 50-day moving average of $2.75 and a one-year range between $1.81 and $2.90.

Saipem (OTCMKTS:SAPMF - Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totaling 26,077,500 shares, a drop of 27.0% from the July 31st total of 35,714,800 shares. Based on an average daily trading volume, of 400 shares, the short-interest ratio is currently 65,193.8 days. Based on an average daily trading volume, of 400 shares, the short-interest ratio is currently 65,193.8 days.

Saipem Price Performance

Saipem stock traded up $0.06 during trading on Friday, reaching $2.80. The company had a trading volume of 7,900 shares, compared to its average volume of 2,208. Saipem has a 52 week low of $1.81 and a 52 week high of $2.90. The firm's 50-day simple moving average is $2.74 and its 200 day simple moving average is $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.

Wall Street Analyst Weigh In

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

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.