Saipem SpA (OTCMKTS:SAPMY) Sees Large Drop in Short Interest

Saipem SpA (OTCMKTS:SAPMY) was the recipient of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 15,200 shares, a drop of 24.0% from the May 31st total of 20,000 shares. Based on an average daily volume of 9,800 shares, the days-to-cover ratio is presently 1.6 days.

Saipem Trading Up 10.9 %

Saipem stock traded up $0.05 on Monday, hitting $0.51. The company’s stock had a trading volume of 14,300 shares, compared to its average volume of 10,242. The company has a fifty day moving average price of $0.45 and a 200-day moving average price of $0.37. Saipem has a one year low of $0.22 and a one year high of $0.51.

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.