Prysmian (OTCMKTS:PRYMY) Shares Gap Down – Here’s What Happened

Prysmian S.p.A. (OTCMKTS:PRYMY) gapped down before the market opened on Thursday . The stock had previously closed at $74.48, but opened at $70.19. Prysmian shares last traded at $70.31, with a volume of 8,401 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Zacks Research cut shares of Prysmian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Oddo Bhf upgraded shares of Prysmian to an “outperform” rating in a research report on Friday, September 4th. Barclays reiterated an “overweight” rating on shares of Prysmian in a research report on Friday, July 3rd. Sanford C. Bernstein downgraded Prysmian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Berenberg Bank raised Prysmian from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Prysmian currently has a consensus rating of “Moderate Buy”.

Prysmian Stock Down 3.4%

The company’s fifty day moving average price is $71.33 and its 200-day moving average price is $73.79.

About Prysmian

Prysmian S.p.A. is an Italy-based manufacturer of cable systems and related solutions for the energy and telecommunications industries. The company supplies products used in power transmission and distribution, electrical infrastructure, renewable energy projects, industrial applications, and data and telecommunications networks.

Its portfolio includes high- and extra-high-voltage underground and submarine cables, overhead lines, optical fiber and copper cables, connectivity products, and related engineering and installation services.