Snam S.p.A. (OTCMKTS:SNMRY) Sees Large Decrease in Short Interest

Snam S.p.A. (OTCMKTS:SNMRY) was the target of a significant decrease in short interest in December. As of December 15th, there was short interest totaling 28,724 shares, a decrease of 17.1% from the November 30th total of 34,646 shares. Based on an average trading volume of 83,939 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 83,939 shares, the short-interest ratio is currently 0.3 days.

Analysts Set New Price Targets

SNMRY has been the topic of a number of research reports. Royal Bank Of Canada lowered Snam from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Sanford C. Bernstein lowered shares of Snam from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Snam presently has a consensus rating of “Reduce”.

Snam Price Performance

SNMRY opened at $13.26 on Wednesday. Snam has a fifty-two week low of $8.66 and a fifty-two week high of $13.37. The company’s 50-day moving average is $12.97 and its 200 day moving average is $12.29.

About Snam

Snam S.p.A. is an Italian natural gas infrastructure company specializing in the transportation, storage and regasification of natural gas. Headquartered in San Donato Milanese, near Milan, Snam operates one of the largest gas pipeline networks in Europe, overseeing both high-pressure transmission lines and interconnection points that link the Italian system with broader continental markets. The company’s core business activities encompass the development, maintenance and operation of gas transport facilities, as well as the balancing and dispatching services that ensure a reliable energy supply.

Founded in 1941 as the gas transportation arm of ENI, Società Nazionale Metanodotti was reorganized under its current name and structure in 2001, when it became an independent concessionaire and a publicly listed entity on the Milan Stock Exchange.