Short Interest in Nexans S.A. (OTCMKTS:NXPRF) Drops By 79.1%

Nexans S.A. (OTCMKTS:NXPRF) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 1,751 shares, a decrease of 79.1% from the April 30th total of 8,380 shares. Based on an average daily trading volume, of 483 shares, the days-to-cover ratio is presently 3.6 days.

Nexans Stock Performance

NXPRF stock remained flat at $181.49 during trading on Friday. Nexans has a fifty-two week low of $110.85 and a fifty-two week high of $201.32. The stock’s fifty day moving average price is $158.45 and its two-hundred day moving average price is $151.94.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NXPRF. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nexans in a report on Thursday, April 30th. BNP Paribas Exane began coverage on Nexans in a research note on Wednesday, May 6th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, 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.