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

Prysmian S.p.A. (OTCMKTS:PRYMY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $59.64, but opened at $56.53. Prysmian shares last traded at $57.34, with a volume of 15,625 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PRYMY shares. Citigroup reissued a “buy” rating on shares of Prysmian in a report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft downgraded Prysmian from a “buy” rating to a “hold” rating in a report on Monday, February 9th. Finally, Berenberg Bank cut Prysmian from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Prysmian currently has an average rating of “Moderate Buy”.

Prysmian Price Performance

The firm has a market capitalization of $32.97 billion and a P/E ratio of 133.61. The company’s 50 day moving average price is $54.67 and its 200 day moving average price is $50.25.

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.