Saipem SpA (OTCMKTS:SAPMY – Get Rating) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 7,400 shares, a decrease of 80.3% from the January 15th total of 37,500 shares. Based on an average daily trading volume, of 55,500 shares, the short-interest ratio is currently 0.1 days.

Saipem Stock Performance

Shares of SAPMY remained flat at $0.32 during trading hours on Friday. The stock had a trading volume of 4,375 shares, compared to its average volume of 30,966. Saipem has a 12 month low of $0.07 and a 12 month high of $12.82. The business's fifty day simple moving average is $0.24 and its two-hundred day simple moving average is $0.22.

Wall Street Analyst Weigh In

SAPMY has been the subject of a number of research analyst reports. Societe Generale upgraded Saipem from a "sell" rating to a "buy" rating in a report on Wednesday, November 23rd. Berenberg Bank raised Saipem from a "hold" rating to a "buy" rating in a report on Thursday, November 17th. JPMorgan Chase & Co. lifted their target price on Saipem from €1.75 ($1.88) to €1.95 ($2.10) in a report on Monday, December 5th. HSBC started coverage on shares of Saipem in a research note on Tuesday, November 8th. They issued a "buy" rating on the stock. Finally, Jefferies Financial Group raised shares of Saipem from a "hold" rating to a "buy" rating in a report on Thursday, October 20th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Saipem currently has a consensus rating of "Moderate Buy" and an average price target of $4.07.

About Saipem

Saipem SpA provides integrated basic and detailed onshore engineering, procurement, project management, and construction services mainly to the oil and gas, complex civil and marine infrastructure, and environmental market sectors. It operates through the following business segments: Offshore Engineering and Construction; Onshore Engineering and Construction; Offshore Drilling; and Onshore Drilling.

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