Prysmian (OTCMKTS:PRYMY) Hits New 1-Year High – Here’s Why

Shares of Prysmian S.p.A. (OTCMKTS:PRYMY) hit a new 52-week high on Tuesday . The stock traded as high as $71.19 and last traded at $71.19, with a volume of 88583 shares changing hands. The stock had previously closed at $70.25.

Analysts Set New Price Targets

Several brokerages recently weighed in on PRYMY. Deutsche Bank Aktiengesellschaft cut Prysmian from a “buy” rating to a “hold” rating in a research report on Monday, February 9th. Citigroup reiterated a “buy” rating on shares of Prysmian in a research report on Thursday, January 15th. Berenberg Bank cut Prysmian from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Zacks Research upgraded Prysmian to a “hold” rating in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Prysmian has an average rating of “Hold”.

Prysmian Stock Down 0.5%

The stock has a market capitalization of $41.29 billion and a PE ratio of 133.61. The company has a 50-day moving average of $59.69 and a 200 day moving average of $54.36.

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.