Prysmian S.p.A. (OTCMKTS:PRYMY) Short Interest Up 237.1% in August

Prysmian S.p.A. (OTCMKTS:PRYMY) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 11,800 shares, an increase of 237.1% from the August 15th total of 3,500 shares. Based on an average daily trading volume, of 19,700 shares, the days-to-cover ratio is currently 0.6 days.

Shares of OTCMKTS PRYMY traded down $0.14 during mid-day trading on Friday, hitting $18.96. 17,678 shares of the stock were exchanged, compared to its average volume of 15,648. The stock’s fifty day simple moving average is $18.46 and its two-hundred day simple moving average is $17.28. Prysmian has a twelve month low of $13.17 and a twelve month high of $19.71.

PRYMY has been the subject of several recent research reports. Morgan Stanley set a $18.12 target price on Prysmian and gave the company an “overweight” rating in a report on Monday, July 12th. Citigroup restated a “buy” rating on shares of Prysmian in a research report on Thursday, July 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $18.12.

Prysmian Company Profile

Prysmian SpA engages in the development, design, manufacturing, supply, and installation of cables. It operates through the following segments: Energy, Projects, and Telecom. The Energy segment involves in the provision of trade and installers, power distribution and overhead lines, specialties and OEM, elevators, automotive, network components, core oil and gas and DHT, and sales of residual products.

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