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

Prysmian S.p.A. (OTCMKTS:PRYMY) gapped up before the market opened on Wednesday . The stock had previously closed at $68.73, but opened at $70.88. Prysmian shares last traded at $71.12, with a volume of 13,936 shares changing hands.

Analyst Upgrades and Downgrades

PRYMY has been the subject of several research reports. BNP Paribas Exane began coverage on Prysmian in a research note on Wednesday, May 6th. They issued a “neutral” rating for the company. Citigroup reissued a “buy” rating on shares of Prysmian in a research note on Thursday, May 7th. Barclays restated an “overweight” rating on shares of Prysmian in a report on Friday, July 3rd. Berenberg Bank raised shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Prysmian from a “hold” rating to a “buy” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy”.

Prysmian Stock Up 0.7%

The stock’s 50 day moving average is $75.66 and its 200-day moving average is $72.08.

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.