Nexans S.A. (OTCMKTS:NXPRF – Get Free Report) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 1,751 shares, a decline of 79.1% from the April 30th total of 8,380 shares. Based on an average daily volume of 483 shares, the days-to-cover ratio is presently 3.6 days.
Nexans Price Performance
NXPRF stock remained flat at $181.49 during mid-day trading on Friday. Nexans has a 12 month low of $110.85 and a 12 month high of $201.32. The stock’s fifty day moving average is $157.62 and its two-hundred day moving average is $151.73.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. BNP Paribas Exane started coverage on Nexans in a research report on Wednesday, May 6th. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nexans in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy”.
Nexans Company Profile
Nexans is a global leader in the design, manufacturing and distribution of cable and connectivity solutions. The company develops a broad portfolio of copper and optical‐fiber cables for power transmission, telecommunications and data networks, as well as specialty cables for transportation, industry and renewable energy applications. Its product range includes low-, medium- and high-voltage power cables, submarine cables for offshore wind and interconnections, building wires, and fiber-optic systems for high-speed communications.
Established in 2000 following a demerger from the cable activities of Alcatel, Nexans traces its origins to more than a century of technological innovation in wire and cable engineering.
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