Prysmian (OTCMKTS:PRYMY) Shares Gap Up – Here’s Why

Shares of Prysmian S.p.A. (OTCMKTS:PRYMY) gapped up prior to trading on Monday. The stock had previously closed at $55.22, but opened at $57.46. Prysmian shares last traded at $57.41, with a volume of 14,778 shares traded.

Wall Street Analysts Forecast Growth

PRYMY has been the subject of a number of research reports. Zacks Research lowered Prysmian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Oddo Bhf raised shares of Prysmian to an “outperform” rating in a research note on Friday, September 4th. Barclays reiterated an “overweight” rating on shares of Prysmian in a research report on Friday, July 3rd. Jefferies Financial Group reissued a “buy” rating on shares of Prysmian in a research note on Sunday, October 11th. Finally, Berenberg Bank raised shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Prysmian Stock Up 4.6%

The business has a fifty day moving average of $69.06 and a 200 day moving average of $75.23.

About Prysmian

Prysmian S.p.A. is an Italian manufacturer of cables and cable systems for the energy and telecommunications industries. The company supplies products used in power transmission and distribution, electrification, renewable energy, industrial applications, transportation, construction and data communications.

Its portfolio includes high- and medium-voltage cables, underground and submarine power cables, fiber-optic and copper telecommunications cables, specialty cables and related cable systems and services.