Short Interest in Nexans S.A. (OTCMKTS:NXPRF) Declines By 42.3%

Nexans S.A. (OTCMKTS:NXPRF) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 581 shares, a drop of 42.3% from the June 15th total of 1,007 shares. Based on an average trading volume of 148 shares, the days-to-cover ratio is presently 3.9 days.

Wall Street Analyst Weigh In

NXPRF has been the subject of a number of research reports. BNP Paribas Exane initiated coverage on Nexans in a report on Wednesday, May 6th. They set an “outperform” rating for the company. Barclays reaffirmed an “overweight” rating on shares of Nexans in a research report on Friday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nexans in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Nexans currently has an average rating of “Buy”.

Nexans Stock Performance

Shares of NXPRF remained flat at $154.92 during midday trading on Thursday. The firm’s fifty day simple moving average is $180.49 and its 200 day simple moving average is $159.57. Nexans has a 1 year low of $136.79 and a 1 year high of $201.32.

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.