Saipem (OTCMKTS:SAPMF) Hits New 12-Month High – Time to Buy?

Saipem (OTCMKTS:SAPMF)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $3.7050 and last traded at $3.7050, with a volume of 1250 shares traded. The stock had previously closed at $3.6750.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SAPMF. Kepler Capital Markets upgraded Saipem to a “strong-buy” rating in a report on Monday, December 22nd. Citigroup upgraded Saipem to a “strong-buy” rating in a report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Saipem currently has an average rating of “Buy”.

Saipem Stock Up 0.8%

The firm’s 50 day simple moving average is $3.01 and its 200 day simple moving average is $2.83.

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.