Prysmian S.p.A. (OTCMKTS:PRYMY) Stock Short Interest Drops 85.6%

Prysmian S.p.A. (OTCMKTS:PRYMY) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 9,196 shares, a decline of 85.6% from the September 30th total of 64,043 shares. Based on an average trading volume of 155,683 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

PRYMY has been the topic of several recent research reports. Sanford C. Bernstein downgraded Prysmian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Barclays reissued an “overweight” rating on shares of Prysmian in a report on Friday, July 3rd. Zacks Research downgraded Prysmian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Jefferies Financial Group restated a “buy” rating on shares of Prysmian in a research note on Sunday, October 11th. Finally, Berenberg Bank raised Prysmian from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Prysmian presently has a consensus rating of “Moderate Buy”.

Prysmian Trading Up 3.7%

Shares of PRYMY opened at $57.28 on Tuesday. Prysmian has a 12-month low of $45.72 and a 12-month high of $92.89. The stock has a 50-day moving average price of $68.78 and a 200-day moving average price of $69.58.

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.