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

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

Nexans Stock Performance

Nexans stock remained flat at $201.32 during midday trading on Thursday. Nexans has a fifty-two week low of $110.85 and a fifty-two week high of $201.32. The business has a fifty day simple moving average of $148.79 and a two-hundred day simple moving average of $148.21.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. BNP Paribas Exane initiated coverage on Nexans in a report on Wednesday, May 6th. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Nexans in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Nexans currently has an average rating of “Buy”.

Nexans Company Profile

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.