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

Prysmian S.p.A. (OTCMKTS:PRYMY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $88.72, but opened at $80.34. Prysmian shares last traded at $80.34, with a volume of 14,022 shares.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PRYMY. Deutsche Bank Aktiengesellschaft raised Prysmian from a “hold” rating to a “buy” rating in a report on Friday, May 8th. Berenberg Bank cut shares of Prysmian from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. BNP Paribas Exane began coverage on shares of Prysmian in a research report on Wednesday, May 6th. They issued a “neutral” rating for the company. Zacks Research raised Prysmian from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Finally, Citigroup reissued a “buy” rating on shares of Prysmian in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Prysmian Trading Down 6.0%

The company’s 50-day simple moving average is $68.25 and its 200-day simple moving average is $58.58. The stock has a market capitalization of $46.71 billion and a price-to-earnings ratio of 133.61.

Prysmian Company Profile

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.