Prysmian (OTCMKTS:PRYMY) Reaches New 1-Year High – What’s Next?

Prysmian S.p.A. (OTCMKTS:PRYMY) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $92.74 and last traded at $92.14, with a volume of 88556 shares trading hands. The stock had previously closed at $90.41.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PRYMY shares. Deutsche Bank Aktiengesellschaft raised Prysmian from a “hold” rating to a “buy” rating in a research report on Friday. Berenberg Bank cut Prysmian from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Zacks Research raised Prysmian from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. BNP Paribas Exane started coverage on Prysmian in a research report on Wednesday, May 6th. They issued a “neutral” rating for the company. Finally, Citigroup reaffirmed a “buy” rating on shares of Prysmian in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Prysmian has an average rating of “Moderate Buy”.

Prysmian Stock Performance

The firm has a market capitalization of $52.87 billion and a price-to-earnings ratio of 133.61. The company has a fifty day moving average of $65.25 and a two-hundred day moving average of $57.27.

About Prysmian

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.