Short Interest in Prysmian S.p.A. (OTCMKTS:PRYMY) Declines By 79.7%

Prysmian S.p.A. (OTCMKTS:PRYMY) was the target of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 6,364 shares, a decrease of 79.7% from the May 14th total of 31,305 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 199,341 shares, the short-interest ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PRYMY shares. Zacks Research upgraded shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Berenberg Bank cut shares of Prysmian from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft raised shares of Prysmian from a “hold” rating to a “buy” rating in a research note on Friday, May 8th. BNP Paribas Exane assumed coverage on shares of Prysmian in a research note on Wednesday, May 6th. They set a “neutral” rating for the company. Finally, Citigroup restated a “buy” rating on shares of Prysmian in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Prysmian has an average rating of “Moderate Buy”.

Prysmian Stock Down 4.9%

Shares of PRYMY traded down $4.04 during midday trading on Wednesday, reaching $78.77. The company had a trading volume of 16,259 shares, compared to its average volume of 95,238. The firm has a 50 day simple moving average of $77.79 and a 200-day simple moving average of $62.70. Prysmian has a 1-year low of $31.74 and a 1-year high of $92.89. The stock has a market cap of $45.20 billion and a PE ratio of 133.61.

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.