Prysmian (OTCMKTS:PRYMY) Shares Gap Up – What’s Next?

Prysmian S.p.A. (OTCMKTS:PRYMY) gapped up before the market opened on Monday . The stock had previously closed at $82.92, but opened at $90.20. Prysmian shares last traded at $90.51, with a volume of 5,786 shares changing hands.

Wall Street Analysts Forecast Growth

PRYMY has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded Prysmian from a “hold” rating to a “buy” rating in a report on Friday. BNP Paribas Exane initiated coverage on Prysmian in a report on Wednesday, May 6th. They set a “neutral” rating on the stock. Zacks Research upgraded Prysmian from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Berenberg Bank lowered Prysmian from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Citigroup reiterated a “buy” rating on shares of Prysmian in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Prysmian Stock Up 2.2%

The business has a 50 day simple moving average of $63.97 and a two-hundred day simple moving average of $56.71. The firm has a market cap of $53.04 billion and a PE ratio of 133.61.

About Prysmian

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.