Nexans S.A. (OTCMKTS:NXPRF) Sees Large Increase in Short Interest

Nexans S.A. (OTCMKTS:NXPRF) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 18,571 shares, an increase of 271.7% from the August 15th total of 4,996 shares. Based on an average daily volume of 102 shares, the days-to-cover ratio is presently 182.1 days.

Wall Street Analyst Weigh In

Separately, Barclays reaffirmed an “overweight” rating on shares of Nexans in a research report on Friday, July 3rd. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Nexans Stock Performance

Nexans stock remained flat at $164.42 during midday trading on Friday. 45 shares of the company traded hands, compared to its average volume of 584. Nexans has a 1-year low of $136.79 and a 1-year high of $201.32. The stock’s 50-day simple moving average is $156.26 and its 200-day simple moving average is $160.42.

About Nexans

Nexans is a global leader in the design, manufacturing and distribution of cable and connectivity solutions. The company develops a broad portfolio of copper and optical‐fiber cables for power transmission, telecommunications and data networks, as well as specialty cables for transportation, industry and renewable energy applications. Its product range includes low-, medium- and high-voltage power cables, submarine cables for offshore wind and interconnections, building wires, and fiber-optic systems for high-speed communications.

Established in 2000 following a demerger from the cable activities of Alcatel, Nexans traces its origins to more than a century of technological innovation in wire and cable engineering.