Nexans S.A. (OTCMKTS:NXPRF) Sees Significant Decrease in Short Interest

Nexans S.A. (OTCMKTS:NXPRFGet Rating) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totalling 59,700 shares, a decline of 32.5% from the March 31st total of 88,400 shares. Based on an average daily volume of 100 shares, the short-interest ratio is presently 597.0 days.

Nexans stock opened at $81.05 on Friday. The company’s fifty day simple moving average is $82.61 and its 200-day simple moving average is $90.95. Nexans has a 12 month low of $80.35 and a 12 month high of $104.88.

Several research firms have weighed in on NXPRF. Oddo Bhf cut shares of Nexans from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 14th. JPMorgan Chase & Co. lifted their price objective on shares of Nexans from €81.00 ($87.10) to €83.00 ($89.25) and gave the stock a “neutral” rating in a research report on Thursday. Finally, Credit Suisse Group lowered their price target on shares of Nexans from €92.00 ($98.92) to €91.00 ($97.85) and set an “outperform” rating on the stock in a report on Thursday, February 17th.

About Nexans (Get Rating)

Nexans SA manufactures and sells cables in France and internationally. The company operates through four segments: Building & Territories, High Voltage & Projects, Telecom & Data, and Industry & Solutions. The Building & Territories segment offers cabling systems and smart energy solutions to building, smart cities/grids, e-mobility, local infrastructure, decentralized energy systems, and rural electrifications.

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