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

Prysmian S.p.A. (OTCMKTS:PRYMY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $68.73, but opened at $70.88. Prysmian shares last traded at $71.12, with a volume of 13,936 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup reissued a “buy” rating on shares of Prysmian in a research report on Thursday, May 7th. Berenberg Bank raised Prysmian from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. BNP Paribas Exane began coverage on Prysmian in a research note on Wednesday, May 6th. They set a “neutral” rating for the company. Barclays reissued an “overweight” rating on shares of Prysmian in a report on Friday, July 3rd. Finally, Sanford C. Bernstein cut Prysmian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Prysmian Stock Performance

The business’s 50 day simple moving average is $75.66 and its two-hundred day simple moving average is $72.08.

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.