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 target of a significant drop in short interest in the month of August. As of August 15th, there was short interest totaling 26,077,500 shares, adropof27.0% from the July 31st total of 35,714,800 shares. Based on an average trading volume of 400 shares, the days-to-cover ratio is presently 65,193.8 days. Based on an average trading volume of 400 shares, the days-to-cover ratio is presently 65,193.8 days.

Analyst Ratings Changes

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

Saipem Price Performance

Shares of SAPMF stock opened at $2.76 on Monday. The firm's 50 day moving average price is $2.75 and its 200-day moving average price is $2.47. 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 has a one year low of $1.81 and a one year high of $2.90.

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.

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