Nexans S.A. (OTCMKTS:NXPRF) Sees Significant Decrease in Short Interest

Nexans S.A. (OTCMKTS:NXPRF) saw a significant decline in short interest in May. As of May 15th, there was short interest totaling 1,751 shares, a decline of 79.1% from the April 30th total of 8,380 shares. Based on an average trading volume of 483 shares, the short-interest ratio is presently 3.6 days.

Nexans Stock Performance

Nexans stock remained flat at $181.49 on Friday. Nexans has a twelve month low of $110.85 and a twelve month high of $201.32. The company has a fifty day moving average price of $157.62 and a 200-day moving average price of $151.73.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NXPRF. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nexans in a research report on Thursday, April 30th. BNP Paribas Exane initiated coverage on Nexans in a research report on Wednesday, May 6th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Nexans Company Profile

Nexans is a global leader in the design, manufacturing and distribution of cable and connectivity solutions. The company develops a broad portfolio of copper and optical‐fiber cables for power transmission, telecommunications and data networks, as well as specialty cables for transportation, industry and renewable energy applications. Its product range includes low-, medium- and high-voltage power cables, submarine cables for offshore wind and interconnections, building wires, and fiber-optic systems for high-speed communications.

Established in 2000 following a demerger from the cable activities of Alcatel, Nexans traces its origins to more than a century of technological innovation in wire and cable engineering.