Prysmian S.p.A. (OTCMKTS:PRYMY) Sees Large Increase in Short Interest

Prysmian S.p.A. (OTCMKTS:PRYMY) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 64,043 shares, an increase of 237.9% from the September 15th total of 18,956 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 162,895 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

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

Prysmian Stock Up 1.4%

OTCMKTS:PRYMY traded up $0.93 on Friday, reaching $69.19. The company’s stock had a trading volume of 74,239 shares, compared to its average volume of 81,009. Prysmian has a 1-year low of $45.72 and a 1-year high of $92.89. The business’s 50-day moving average price is $71.34 and its two-hundred day moving average price is $74.84.

Prysmian Company Profile

Prysmian S.p.A. is an Italian manufacturer of energy and telecommunications cable systems. The company develops, produces and supplies cables and related components used in power transmission and distribution, renewable energy projects, industrial applications, telecommunications networks, data centers, and infrastructure. Its offerings include high- and medium-voltage underground and submarine cables, optical-fiber and copper cables, connectivity solutions, and customized cable systems.

The company serves utilities, telecommunications operators, construction companies, industrial customers, and infrastructure developers.