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

Prysmian S.p.A. (OTCMKTS:PRYMY) shares gapped up before the market opened on Monday . The stock had previously closed at $82.88, but opened at $89.14. Prysmian shares last traded at $89.14, with a volume of 3,569 shares changing hands.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. BNP Paribas Exane initiated coverage on Prysmian in a research note on Wednesday, May 6th. They issued a “neutral” rating on the stock. Zacks Research upgraded shares of Prysmian from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft raised shares of Prysmian from a “hold” rating to a “buy” rating in a research note on Friday, May 8th. Finally, Citigroup reiterated a “buy” rating on shares of Prysmian in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Prysmian Stock Up 3.7%

The company has a market cap of $53.20 billion and a P/E ratio of 133.61. The firm has a 50 day moving average of $81.47 and a 200-day moving average of $64.66.

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.