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

Prysmian S.p.A. (OTCMKTS:PRYMY)’s share price gapped up before the market opened on Monday. The stock had previously closed at $55.17, but opened at $59.49. Prysmian shares last traded at $59.73, with a volume of 4,206 shares trading hands.

Wall Street Analysts Forecast Growth

PRYMY has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Prysmian in a research note on Sunday, October 11th. Sanford C. Bernstein lowered Prysmian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Berenberg Bank raised shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Oddo Bhf raised shares of Prysmian to an “outperform” rating in a research report on Friday, September 4th. Finally, Zacks Research lowered shares of Prysmian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Prysmian Stock Performance

The stock’s 50 day simple moving average is $66.25 and its 200 day simple moving average is $69.96.

Prysmian Company Profile

Prysmian S.p.A. is an Italian manufacturer of cable and cable systems for the energy and telecommunications industries. The company traces its roots to Pirelli’s cable business and became an independent company in 2005. Its energy business supplies cables and systems for power transmission and distribution, including underground and submarine high-voltage cables used in electricity grids and renewable energy projects. Prysmian also makes cables for buildings, infrastructure and industrial applications.