Prysmian (OTCMKTS:PRYMY) Stock Price Up 6.6% – Here’s What Happened

Prysmian S.p.A. (OTCMKTS:PRYMY) shares rose 6.6% during trading on Tuesday. The company traded as high as $59.78 and last traded at $59.66. 3,460 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 97,959 shares. The stock had previously closed at $55.99.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PRYMY. Zacks Research cut Prysmian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Berenberg Bank raised shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Jefferies Financial Group reissued a “buy” rating on shares of Prysmian in a research report on Sunday, October 11th. Sanford C. Bernstein cut Prysmian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Oddo Bhf raised Prysmian to an “outperform” rating in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Prysmian presently has an average rating of “Moderate Buy”.

Prysmian Stock Performance

The stock has a 50-day moving average price of $66.45 and a two-hundred day moving average price of $69.94.

About Prysmian

Prysmian S.p.A. is an Italian manufacturer of cable and cable systems for the energy and telecommunications industries. The company traces its roots to Pirelli’s cable business and became an independent company in 2005.

Its energy business supplies cables and systems for power transmission and distribution, including underground and submarine high-voltage cables used in electricity grids and renewable energy projects. Prysmian also makes cables for buildings, infrastructure and industrial applications.