Saipem SpA (OTCMKTS:SAPMF) Sees Large Increase in Short Interest

Saipem SpA (OTCMKTS:SAPMF) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 19,657,600 shares, an increase of 37.3% from the August 31st total of 14,314,300 shares. Based on an average trading volume of 500 shares, the days-to-cover ratio is currently 39,315.2 days.

Saipem Price Performance

OTCMKTS SAPMF remained flat at $2.21 during trading on Friday. Saipem has a 52 week low of $1.31 and a 52 week high of $2.58. The business’s fifty day simple moving average is $2.28 and its two-hundred day simple moving average is $2.35.

About Saipem

Saipem SpA provides energy and infrastructure solutions worldwide. The company operates through divisions Offshore Engineering & Construction (E&C), Onshore Engineering & Construction, and Offshore Drilling. It offers development of subsea fields and pipelaying; installation and lifting of offshore structures; and engineering, implementation, installation, maintenance, modification, and decommissioning activities.