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

Prysmian S.p.A. (OTCMKTS:PRYMY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $82.88, but opened at $89.14. Prysmian shares last traded at $89.14, with a volume of 3,569 shares traded.

Wall Street Analyst Weigh In

PRYMY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised Prysmian from a “hold” rating to a “buy” rating in a report on Friday, May 8th. Citigroup restated a “buy” rating on shares of Prysmian in a report on Thursday, May 7th. Zacks Research upgraded Prysmian from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Finally, BNP Paribas Exane started coverage on shares of Prysmian in a research note on Wednesday, May 6th. They set a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Prysmian Stock Performance

The firm’s 50 day simple moving average is $82.16 and its 200-day simple moving average is $65.19. The company has a market capitalization of $50.98 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.