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

Shares of Prysmian S.p.A. (OTCMKTS:PRYMY – Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $73.99, but opened at $78.95. Prysmian shares last traded at $79.1475, with a volume of 15,293 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently commented on PRYMY shares. Berenberg Bank lowered shares of Prysmian from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Citigroup reaffirmed a “buy” rating on shares of Prysmian in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft lowered shares of Prysmian from a “buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Zacks Research raised shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

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Prysmian Stock Performance

The stock has a market cap of $46.41 billion and a PE ratio of 133.61. The company’s 50-day moving average price is $62.42 and its 200 day moving average price is $56.04.

About Prysmian

(Get Free Report)

Prysmian Group is a leading global manufacturer of cables and systems for energy and telecoms, operating under the OTCMKTS ticker PRYMY. The company specializes in the design, production and distribution of high-technology cables that deliver power and data in a broad range of applications, from high-voltage subsea transmission to fiber-optic networks for telecommunications. Its core mission is to enable efficient energy transmission and advanced digital connectivity for utilities, industrial and infrastructure customers worldwide.

The group’s product portfolio spans power cables for high-voltage and extra-high-voltage transmission, medium- and low-voltage distribution cables, flexible industrial cables, and specialty cables for renewable energy installations.

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