Saipem SpA (OTCMKTS:SAPMY) Sees Significant Growth in Short Interest

Saipem SpA (OTCMKTS:SAPMY) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 33,300 shares, an increase of 1,981.3% from the March 15th total of 1,600 shares. Based on an average daily volume of 10,900 shares, the short-interest ratio is presently 3.1 days.

Saipem Stock Up 14.2 %

Shares of SAPMY opened at $0.39 on Wednesday. Saipem has a 1-year low of $0.31 and a 1-year high of $0.53. The firm’s 50 day simple moving average is $0.43 and its 200 day simple moving average is $0.45.

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.