Saipem (OTCMKTS:SAPMF) Sets New 1-Year High – Here’s What Happened

Saipem (OTCMKTS:SAPMF) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $3.9050 and last traded at $3.9050, with a volume of 142 shares trading hands. The stock had previously closed at $3.7050.

Analyst Ratings Changes

SAPMF has been the topic of several recent research reports. Citigroup upgraded Saipem to a “strong-buy” rating in a report on Monday, October 20th. Kepler Capital Markets raised Saipem to a “strong-buy” rating in a research note on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Saipem presently has a consensus rating of “Buy”.

Saipem Stock Performance

The firm has a 50-day moving average price of $3.10 and a 200 day moving average price of $2.86.

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.