Prysmian (OTCMKTS:PRYMY) Shares Gap Down – Here’s Why

Prysmian S.p.A. (OTCMKTS:PRYMY) shares gapped down prior to trading on Tuesday . The stock had previously closed at $88.72, but opened at $80.34. Prysmian shares last traded at $80.34, with a volume of 14,022 shares traded.

Analysts Set New Price Targets

PRYMY has been the subject of a number of recent analyst reports. Citigroup reiterated a “buy” rating on shares of Prysmian in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft raised Prysmian from a “hold” rating to a “buy” rating in a report on Friday, May 8th. Berenberg Bank cut Prysmian from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Zacks Research raised Prysmian from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Finally, BNP Paribas Exane began coverage on shares of Prysmian in a research report on Wednesday, May 6th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Prysmian Price Performance

The stock has a market capitalization of $46.71 billion and a price-to-earnings ratio of 133.61. The business has a 50 day simple moving average of $68.25 and a 200-day simple moving average of $58.58.

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.