Nexans S.A. (OTCMKTS:NXPRF) Sees Significant Decrease in Short Interest

Nexans S.A. (OTCMKTS:NXPRF) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 377 shares, a decrease of 35.1% from the June 30th total of 581 shares. Based on an average daily volume of 56 shares, the days-to-cover ratio is currently 6.7 days.

Wall Street Analyst Weigh In

NXPRF has been the subject of several recent analyst reports. Barclays restated an “overweight” rating on shares of Nexans in a research report on Friday, July 3rd. BNP Paribas Exane initiated coverage on shares of Nexans in a research note on Wednesday, May 6th. They issued an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nexans in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Nexans Stock Performance

Shares of OTCMKTS NXPRF remained flat at $149.24 during trading on Friday. 150 shares of the company’s stock traded hands, compared to its average volume of 633. Nexans has a 52 week low of $136.79 and a 52 week high of $201.32. The stock has a 50-day moving average price of $170.91 and a two-hundred day moving average price of $160.16.

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.