Nexans S.A. (OTCMKTS:NXPRF) Sees Significant Growth in Short Interest

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

Wall Street Analysts Forecast Growth

Separately, Barclays reissued 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, According to data from MarketBeat.com, Nexans has an average rating of “Buy”.

Nexans Price Performance

Shares of OTCMKTS:NXPRF remained flat at $164.42 during mid-day trading on Friday. The company had a trading volume of 45 shares, compared to its average volume of 584. Nexans has a one year low of $136.79 and a one year high of $201.32. The firm’s 50-day moving average price is $156.26 and its 200-day moving average price is $160.40.

Nexans Company Profile

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.