Short Interest in Prysmian S.p.A. (OTCMKTS:PRYMY) Declines By 96.9%

Prysmian S.p.A. (OTCMKTS:PRYMYGet Rating) saw a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 400 shares, a decrease of 96.9% from the April 30th total of 13,100 shares. Based on an average daily volume of 139,200 shares, the days-to-cover ratio is currently 0.0 days.

OTCMKTS PRYMY traded up $0.23 on Wednesday, hitting $15.84. 29,557 shares of the company’s stock were exchanged, compared to its average volume of 56,508. The stock has a 50-day moving average of $16.15 and a 200-day moving average of $17.18. Prysmian has a 52 week low of $14.27 and a 52 week high of $19.92.

Several research firms have recently commented on PRYMY. Morgan Stanley decreased their target price on Prysmian from €33.00 ($35.11) to €32.00 ($34.04) and set an “overweight” rating on the stock in a research report on Wednesday, April 20th. Citigroup reduced their price target on Prysmian from €38.00 ($40.43) to €36.00 ($38.30) in a research report on Wednesday, March 2nd. JPMorgan Chase & Co. increased their price target on Prysmian from €38.00 ($40.43) to €40.00 ($42.55) in a research report on Sunday, May 15th. Finally, Credit Suisse Group upgraded Prysmian from a “neutral” rating to an “outperform” rating in a research note on Monday, April 11th.

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 within 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 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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