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

Prysmian S.p.A. (OTCMKTS:PRYMY) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 5,372 shares, a growth of 67.9% from the July 15th total of 3,199 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 260,664 shares, the short-interest ratio is presently 0.0 days.

Prysmian Stock Performance

PRYMY traded up $1.62 during midday trading on Monday, reaching $75.92. The company had a trading volume of 31,067 shares, compared to its average volume of 93,161. The business has a 50-day moving average of $77.26 and a two-hundred day moving average of $71.48. Prysmian has a 1 year low of $42.46 and a 1 year high of $92.89.

Analysts Set New Price Targets

A number of brokerages have recently commented on PRYMY. Zacks Research upgraded shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Sanford C. Bernstein lowered Prysmian from a “strong-buy” rating to a “hold” rating in a report on Thursday. Barclays reissued an “overweight” rating on shares of Prysmian in a research report on Friday, July 3rd. BNP Paribas Exane initiated coverage on shares of Prysmian in a research report on Wednesday, May 6th. They set a “neutral” rating for the company. Finally, Citigroup reissued a “buy” rating on shares of Prysmian in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Prysmian presently has a consensus rating of “Buy”.

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.