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

Shares of Prysmian S.p.A. (OTCMKTS:PRYMY) gapped up prior to trading on Monday. The stock had previously closed at $55.17, but opened at $59.49. Prysmian shares last traded at $59.73, with a volume of 4,206 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PRYMY. Zacks Research downgraded Prysmian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Berenberg Bank raised shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Oddo Bhf upgraded shares of Prysmian to an “outperform” rating in a report on Friday, September 4th. Sanford C. Bernstein cut shares of Prysmian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Prysmian in a research report on Sunday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Prysmian presently has a consensus rating of “Moderate Buy”.

Prysmian Stock Up 7.7%

The business has a 50 day moving average of $66.65 and a 200-day moving average of $69.92.

Prysmian Company Profile

Prysmian S.p.A. is an Italian manufacturer of cable and cable systems for the energy and telecommunications industries. The company traces its roots to Pirelli’s cable business and became an independent company in 2005.

Its energy business supplies cables and systems for power transmission and distribution, including underground and submarine high-voltage cables used in electricity grids and renewable energy projects. Prysmian also makes cables for buildings, infrastructure and industrial applications.