Prysmian S.p.A. (OTCMKTS:PRYMY) Sees Significant Growth in Short Interest

Prysmian S.p.A. (OTCMKTS:PRYMY) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 8,877 shares, an increase of 65.2% from the July 30th total of 5,372 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 129,054 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

PRYMY has been the topic of a number of recent analyst reports. BNP Paribas Exane started coverage on Prysmian in a research report on Wednesday, May 6th. They issued a “neutral” rating on the stock. Berenberg Bank raised shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Barclays reissued an “overweight” rating on shares of Prysmian in a report on Friday, July 3rd. Finally, Citigroup restated a “buy” rating on shares of Prysmian in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Prysmian Trading Down 1.1%

Shares of Prysmian stock traded down $0.75 during midday trading on Monday, hitting $69.99. 62,195 shares of the company traded hands, compared to its average volume of 92,958. The firm’s fifty day moving average price is $74.87 and its 200-day moving average price is $72.29. Prysmian has a 12 month low of $42.85 and a 12 month high of $92.89.

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.