Saipem (OTCMKTS:SAPMF) Sees Large Volume Increase – Time to Buy?

Saipem (OTCMKTS:SAPMF) saw an uptick in trading volume on Friday . 3,852 shares were traded during mid-day trading, an increase of 44% from the previous session’s volume of 2,667 shares.The stock last traded at $3.69 and had previously closed at $3.32.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SAPMF shares. Citigroup upgraded Saipem to a “strong-buy” rating in a research note on Monday, October 20th. Kepler Capital Markets raised shares of Saipem to a “strong-buy” rating in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Saipem Price Performance

The stock’s 50 day moving average is $2.90 and its 200-day moving average is $2.80.

About Saipem

Saipem is a leading global engineering and construction company specializing in upstream, midstream and downstream projects for the oil and gas industry. The company offers a full suite of services including engineering, procurement, construction and installation (EPCI) for onshore and offshore facilities, as well as specialized drilling services. Its expertise spans the development of floating production units, subsea pipelines, and complex petrochemical plants, catering to major energy producers and national oil companies around the world.

In addition to its core oil and gas portfolio, Saipem has expanded into renewable energy and infrastructure markets, leveraging its engineering capabilities in areas such as offshore wind, hydrogen, and carbon capture and storage.