Short Interest in Saipem SpA (OTCMKTS:SAPMF) Drops By 40.8%

Saipem SpA (OTCMKTS:SAPMF) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 12,155,800 shares, a drop of 40.8% from the October 15th total of 20,531,800 shares. Based on an average trading volume of 200 shares, the short-interest ratio is presently 60,779.0 days.

Saipem Price Performance

Shares of OTCMKTS SAPMF opened at $2.50 on Wednesday. Saipem has a 1-year low of $1.31 and a 1-year high of $2.58. The business’s 50 day moving average is $2.21 and its two-hundred day moving average is $2.31.

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.