Short Interest in Nexans S.A. (OTCMKTS:NXPRF) Decreases By 76.8%

Nexans S.A. (OTCMKTS:NXPRF) was the recipient of a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 8,380 shares, a drop of 76.8% from the April 15th total of 36,191 shares. Based on an average daily trading volume, of 33 shares, the days-to-cover ratio is presently 253.9 days.

Nexans Stock Performance

NXPRF remained flat at $201.32 during trading hours on Friday. The company’s 50 day moving average price is $149.85 and its two-hundred day moving average price is $148.64. Nexans has a twelve month low of $110.85 and a twelve month high of $201.32.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nexans in a research note on Thursday, April 30th. BNP Paribas Exane began coverage on Nexans in a report on Wednesday, May 6th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Nexans 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.