Snam S.p.A. (OTCMKTS:SNMRY) Sees Significant Drop in Short Interest

Snam S.p.A. (OTCMKTS:SNMRY) saw a significant decrease in short interest during the month of 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 daily volume of 83,939 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 83,939 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNMRY. Royal Bank Of Canada downgraded shares of Snam from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Sanford C. Bernstein downgraded 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 given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

Snam Price Performance

SNMRY stock opened at $13.25 on Friday. Snam has a twelve month low of $8.66 and a twelve month high of $13.37. The business’s fifty day moving average is $13.00 and its 200-day moving average is $12.31.

Snam Company Profile

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.