Saipem (OTCMKTS:SAPMF) Stock Price Up 5.8% - Time to Buy?

Key Points

• Saipem's stock price increased by 5.8% on Monday, trading at $2.91, although the trading volume was significantly lower than usual.
• Royal Bank of Canada downgraded Saipem's rating from "moderate buy" to "hold", while the average rating for the stock remains a "buy".
• The company's debt-to-equity ratio is 0.69 and it has a 50-day moving average price of $2.76, reflecting its financial stability in the market.

Saipem (OTCMKTS:SAPMF - Get Free Report) shares shot up 5.8% on Monday . The stock traded as high as $2.91 and last traded at $2.91. 500 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 2,935 shares. The stock had previously closed at $2.75.

Wall Street Analyst Weigh In

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

Saipem Stock Performance

The firm's 50 day moving average price is $2.76 and its 200-day moving average price is $2.52. 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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