Short Interest in Nexans S.A. (OTCMKTS:NXPRF) Grows By 625.1%

Nexans S.A. (OTCMKTS:NXPRF) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 4,996 shares, an increase of 625.1% from the July 30th total of 689 shares. Based on an average trading volume of 29 shares, the days-to-cover ratio is currently 172.3 days.

Nexans Price Performance

NXPRF opened at $165.00 on Wednesday. The stock has a 50-day moving average price of $160.52 and a 200-day moving average price of $160.53. Nexans has a 1 year low of $136.79 and a 1 year high of $201.32.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. BNP Paribas Exane initiated coverage on shares of Nexans in a report on Wednesday, May 6th. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nexans in a research note on Thursday, April 30th. Finally, Barclays reissued an “overweight” rating on shares of Nexans in a research report on Friday, July 3rd. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

About Nexans

Nexans is a global leader in the design, manufacturing and distribution of cable and connectivity solutions. The company develops a broad portfolio of copper and optical‐fiber cables for power transmission, telecommunications and data networks, as well as specialty cables for transportation, industry and renewable energy applications. Its product range includes low-, medium- and high-voltage power cables, submarine cables for offshore wind and interconnections, building wires, and fiber-optic systems for high-speed communications.

Established in 2000 following a demerger from the cable activities of Alcatel, Nexans traces its origins to more than a century of technological innovation in wire and cable engineering.