Short Interest in Prysmian S.p.A. (OTCMKTS:PRYMY) Grows By 61.8%

Prysmian S.p.A. (OTCMKTS:PRYMYGet Rating) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 49,500 shares, an increase of 61.8% from the March 15th total of 30,600 shares. Based on an average daily volume of 83,100 shares, the days-to-cover ratio is currently 0.6 days.

Several equities research analysts have weighed in on PRYMY shares. Citigroup cut their price target on Prysmian from €38.00 ($41.30) to €36.00 ($39.13) in a report on Wednesday, March 2nd. Credit Suisse Group raised Prysmian from a “neutral” rating to an “outperform” rating in a research report on Monday, April 11th. Morgan Stanley lowered their price objective on Prysmian from €35.00 ($38.04) to €34.00 ($36.96) in a research report on Wednesday, January 26th. Finally, JPMorgan Chase & Co. upped their price objective on Prysmian from €36.20 ($39.35) to €38.00 ($41.30) and gave the stock an “overweight” rating in a research report on Thursday, March 31st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $36.00.

Shares of OTCMKTS:PRYMY traded down $0.11 on Friday, hitting $16.40. 47,199 shares of the company’s stock were exchanged, compared to its average volume of 55,614. The firm’s 50-day moving average is $16.45 and its 200 day moving average is $17.69. Prysmian has a 1-year low of $15.08 and a 1-year high of $19.92.

About Prysmian (Get Rating)

Prysmian S.p.A., together with its subsidiaries, produces, distributes, and sells cables and systems, and related accessories for the energy and telecommunications industries worldwide. The company operates through three segments: Projects, Energy and Telecom. The Projects segment designs, produces, and installs high and extra high voltage cables for electricity transmission from power plants and transmission and primary distribution grids; high voltage cabling systems for terrestrial and submarine applications; submarine cable solutions for power transmission and distribution; data transmission cables; and umbilical cables, hoses, and electrical, optical, and signalling components for oil well management, as well as offers advanced services for terrestrial and submarine interconnections between various countries and between offshore wind farms and the mainland, which is used for generation and distribution of electricity.

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