Prysmian (OTCMKTS:PRYMY) Shares Gap Up – Should You Buy?

Prysmian S.p.A. (OTCMKTS:PRYMY) shares gapped up prior to trading on Monday. The stock had previously closed at $55.17, but opened at $59.49. Prysmian shares last traded at $59.73, with a volume of 4,206 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRYMY shares. Oddo Bhf upgraded Prysmian to an “outperform” rating in a research note on Friday, September 4th. Berenberg Bank upgraded Prysmian from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Zacks Research downgraded Prysmian from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Jefferies Financial Group reissued a “buy” rating on shares of Prysmian in a report on Sunday, October 11th. Finally, Sanford C. Bernstein lowered shares of Prysmian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Prysmian Trading Up 7.7%

The firm’s 50-day simple moving average is $66.65 and its two-hundred day simple moving average is $69.92.

About Prysmian

Prysmian S.p.A. is an Italian manufacturer of cable and cable systems for the energy and telecommunications industries. The company traces its roots to Pirelli’s cable business and became an independent company in 2005.

Its energy business supplies cables and systems for power transmission and distribution, including underground and submarine high-voltage cables used in electricity grids and renewable energy projects. Prysmian also makes cables for buildings, infrastructure and industrial applications.