Prysmian S.p.A. (OTCMKTS:PRYMY) Sees Significant Drop in Short Interest

Prysmian S.p.A. (OTCMKTS:PRYMY) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 3,199 shares, a drop of 81.7% from the June 30th total of 17,522 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 129,769 shares, the days-to-cover ratio is currently 0.0 days.

Prysmian Stock Performance

Shares of OTCMKTS PRYMY remained flat at $71.57 during mid-day trading on Friday. The company had a trading volume of 53,861 shares, compared to its average volume of 94,490. The firm has a market cap of $43.20 billion and a PE ratio of 133.61. Prysmian has a 1-year low of $38.12 and a 1-year high of $92.89. The firm’s 50 day simple moving average is $81.87 and its 200 day simple moving average is $69.54.

Analysts Set New Price Targets

PRYMY has been the topic of several research reports. Citigroup reissued a “buy” rating on shares of Prysmian in a research report on Thursday, May 7th. Barclays reiterated an “overweight” rating on shares of Prysmian in a research note on Friday, July 3rd. Deutsche Bank Aktiengesellschaft raised shares of Prysmian from a “hold” rating to a “buy” rating in a report on Friday, May 8th. BNP Paribas Exane began coverage on shares of Prysmian in a research report on Wednesday, May 6th. They issued a “neutral” rating on the stock. Finally, Zacks Research lowered shares of Prysmian from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Prysmian has a consensus rating of “Moderate Buy”.

Prysmian Company Profile

Prysmian Group is a leading global manufacturer of cables and systems for energy and telecoms, operating under the OTCMKTS ticker PRYMY. The company specializes in the design, production and distribution of high-technology cables that deliver power and data in a broad range of applications, from high-voltage subsea transmission to fiber-optic networks for telecommunications. Its core mission is to enable efficient energy transmission and advanced digital connectivity for utilities, industrial and infrastructure customers worldwide.

The group’s product portfolio spans power cables for high-voltage and extra-high-voltage transmission, medium- and low-voltage distribution cables, flexible industrial cables, and specialty cables for renewable energy installations.