Nexans S.A. (OTCMKTS:NXPRF) Sees Large Decline in Short Interest

Nexans S.A. (OTCMKTS:NXPRF) was the target of a significant decrease in short interest in April. As of April 30th, there was short interest totaling 8,380 shares, a decrease of 76.8% from the April 15th total of 36,191 shares. Based on an average trading volume of 33 shares, the short-interest ratio is presently 253.9 days.

Nexans Price Performance

Nexans stock remained flat at $201.32 during trading hours on Wednesday. 27 shares of the company’s stock were exchanged, compared to its average volume of 600. Nexans has a 12-month low of $110.85 and a 12-month high of $201.32. The stock has a fifty day moving average price of $147.72 and a 200 day moving average price of $147.78.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nexans in a research note on Thursday, April 30th. BNP Paribas Exane assumed coverage on shares of Nexans in a research note on Wednesday, May 6th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

About Nexans

Nexans is a global leader in the design, manufacturing and distribution of cable and connectivity solutions. The company develops a broad portfolio of copper and optical‐fiber cables for power transmission, telecommunications and data networks, as well as specialty cables for transportation, industry and renewable energy applications. Its product range includes low-, medium- and high-voltage power cables, submarine cables for offshore wind and interconnections, building wires, and fiber-optic systems for high-speed communications.

Established in 2000 following a demerger from the cable activities of Alcatel, Nexans traces its origins to more than a century of technological innovation in wire and cable engineering.