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

Shares of Prysmian S.p.A. (OTCMKTS:PRYMY) gapped down before the market opened on Wednesday . The stock had previously closed at $82.01, but opened at $76.6301. Prysmian shares last traded at $78.03, with a volume of 5,010 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PRYMY shares. Deutsche Bank Aktiengesellschaft raised Prysmian from a “hold” rating to a “buy” rating in a report on Friday, May 8th. Citigroup restated a “buy” rating on shares of Prysmian in a report on Thursday, May 7th. Barclays reaffirmed an “overweight” rating on shares of Prysmian in a research report on Friday, July 3rd. BNP Paribas Exane started coverage on shares of Prysmian in a research report on Wednesday, May 6th. They set a “neutral” rating on the stock. Finally, Zacks Research lowered shares of Prysmian from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Prysmian Trading Up 0.7%

The firm has a market capitalization of $46.86 billion and a PE ratio of 133.61. The firm has a 50 day simple moving average of $84.37 and a 200 day simple moving average of $67.88.

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.