Nexans S.A. (OTCMKTS:NXPRF) Short Interest Down 16.2% in July

Nexans S.A. (OTCMKTS:NXPRFGet Rating) saw a significant drop in short interest in July. As of July 15th, there was short interest totalling 26,400 shares, a drop of 16.2% from the June 30th total of 31,500 shares. Based on an average daily volume of 100 shares, the short-interest ratio is currently 264.0 days.

Analyst Ratings Changes

NXPRF has been the topic of several analyst reports. Societe Generale cut Nexans from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Nexans from €83.00 ($85.57) to €80.00 ($82.47) and set a “neutral” rating on the stock in a report on Thursday, July 28th. Morgan Stanley upped their target price on shares of Nexans from €83.00 ($85.57) to €89.00 ($91.75) in a research note on Monday. Finally, Oddo Bhf cut shares of Nexans from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 14th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Nexans currently has a consensus rating of “Hold” and a consensus price target of $86.67.

Nexans Price Performance

OTCMKTS NXPRF opened at $82.65 on Friday. The stock’s 50 day moving average is $87.86 and its 200 day moving average is $86.32. Nexans has a 12 month low of $78.00 and a 12 month high of $104.88.

Nexans Company Profile

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

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