Berenberg Bank Downgrades Prysmian (OTCMKTS:PRYMY) to Hold

Prysmian (OTCMKTS:PRYMY) was downgraded by equities researchers at Berenberg Bank from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Citigroup reaffirmed a “buy” rating on shares of Prysmian in a report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft lowered Prysmian from a “buy” rating to a “hold” rating in a report on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Prysmian Stock Performance

PRYMY stock opened at $59.64 on Tuesday. The stock has a market capitalization of $34.22 billion and a PE ratio of 133.61. The company has a fifty day moving average of $54.67 and a 200-day moving average of $50.25. Prysmian has a one year low of $21.62 and a one year high of $63.22.

Prysmian Company Profile

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.