Zacks Research Downgrades Prysmian (OTCMKTS:PRYMY) to Hold

Prysmian (OTCMKTS:PRYMY) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks reports.

PRYMY has been the subject of several other reports. Berenberg Bank upgraded shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft raised shares of Prysmian from a “hold” rating to a “buy” rating in a report on Friday, May 8th. Citigroup restated a “buy” rating on shares of Prysmian in a research report on Thursday, May 7th. Sanford C. Bernstein downgraded shares of Prysmian from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Finally, BNP Paribas Exane assumed coverage on Prysmian in a research note on Wednesday, May 6th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Prysmian currently has an average rating of “Moderate Buy”.

Prysmian Price Performance

Shares of OTCMKTS PRYMY opened at $69.90 on Wednesday. Prysmian has a 12 month low of $44.02 and a 12 month high of $92.89. The business has a 50-day moving average of $73.59 and a 200-day moving average of $72.53.

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.