Nexans S.A. (OTCMKTS:NXPRF) Sees Large Decline in Short Interest

Nexans S.A. (OTCMKTS:NXPRF) was the recipient of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 8,380 shares, a decrease of 76.8% from the April 15th total of 36,191 shares. Based on an average trading volume of 33 shares, the days-to-cover ratio is presently 253.9 days.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NXPRF shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nexans in a report on Thursday, April 30th. BNP Paribas Exane started coverage on shares of Nexans in a report on Wednesday, May 6th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Nexans has an average rating of “Buy”.

Nexans Price Performance

OTCMKTS NXPRF remained flat at $201.32 during trading hours on Wednesday. 27 shares of the company were exchanged, compared to its average volume of 600. The company’s 50 day simple moving average is $147.72 and its two-hundred day simple moving average is $147.78. Nexans has a 1-year low of $110.85 and a 1-year high of $201.32.

About Nexans

Nexans is a global leader in the design, manufacturing and distribution of cable and connectivity solutions. The company develops a broad portfolio of copper and optical?fiber cables for power transmission, telecommunications and data networks, as well as specialty cables for transportation, industry and renewable energy applications. Its product range includes low-, medium- and high-voltage power cables, submarine cables for offshore wind and interconnections, building wires, and fiber-optic systems for high-speed communications.

Established in 2000 following a demerger from the cable activities of Alcatel, Nexans traces its origins to more than a century of technological innovation in wire and cable engineering.