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

Prysmian S.p.A. (OTCMKTS:PRYMY)’s stock price gapped up prior to trading on Monday. The stock had previously closed at $55.22, but opened at $57.46. Prysmian shares last traded at $57.41, with a volume of 14,778 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRYMY. Zacks Research lowered shares of Prysmian from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Barclays reissued an “overweight” rating on shares of Prysmian in a report on Friday, July 3rd. Sanford C. Bernstein cut shares of Prysmian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Berenberg Bank upgraded shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Oddo Bhf raised Prysmian to an “outperform” rating in a research note on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Prysmian has a consensus rating of “Moderate Buy”.

Prysmian Trading Up 4.6%

The stock has a 50-day moving average price of $69.06 and a 200 day moving average price of $75.23.

Prysmian Company Profile

Prysmian S.p.A. is an Italian manufacturer of cables and cable systems for the energy and telecommunications industries. The company supplies products used in power transmission and distribution, electrification, renewable energy, industrial applications, transportation, construction and data communications.

Its portfolio includes high- and medium-voltage cables, underground and submarine power cables, fiber-optic and copper telecommunications cables, specialty cables and related cable systems and services.