Saipem (OTCMKTS:SAPMF) Upgraded to “Hold” at Zacks Investment Research

Saipem (OTCMKTS:SAPMFGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Saipem S.p.A. provides drilling services as well as engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore primarily in the oil & gas market. Saipem S.p.A. is headquartered in Milan, Italy. “

Shares of Saipem stock traded down $0.05 during trading hours on Tuesday, reaching $1.24. 525 shares of the company’s stock were exchanged, compared to its average volume of 5,331. Saipem has a 52-week low of $1.07 and a 52-week high of $2.85. The company has a fifty day moving average of $1.22 and a 200-day moving average of $1.70.

About Saipem (Get Rating)

Saipem SpA provides energy and infrastructure solutions worldwide. The company operates through five divisions: Offshore Engineering & Construction (E&C), Onshore Engineering & Construction, Offshore Drilling, Onshore Drilling, and XSIGHT. It offers engineering, construction, installation of platforms, pipelines, subsea fields, maintenance, modification, operation, and decommissioning activities, as well as develops marine wind farms and energy integration projects.

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