Prysmian S.p.A. (OTCMKTS:PRYMY) Sees Significant Decline in Short Interest

Prysmian S.p.A. (OTCMKTS:PRYMY) was the recipient of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 6,364 shares, a decline of 79.7% from the May 14th total of 31,305 shares. Based on an average daily volume of 199,341 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Berenberg Bank lowered Prysmian from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft raised Prysmian from a “hold” rating to a “buy” rating in a research note on Friday, May 8th. BNP Paribas Exane assumed coverage on Prysmian in a research note on Wednesday, May 6th. They set a “neutral” rating for the company. Citigroup reiterated a “buy” rating on shares of Prysmian in a report on Thursday, May 7th. Finally, Zacks Research upgraded Prysmian from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Prysmian Stock Down 2.2%

Shares of PRYMY traded down $1.88 during trading hours on Friday, hitting $83.47. The company had a trading volume of 37,138 shares, compared to its average volume of 94,788. The firm has a market cap of $50.39 billion and a P/E ratio of 133.61. The stock’s 50 day moving average price is $78.81 and its 200 day moving average price is $63.19. Prysmian has a 52-week low of $31.74 and a 52-week high of $92.89.

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.