Prysmian (OTCMKTS:PRYMY) Sets New 1-Year High – Time to Buy?
by Tristan Rich · The Markets DailyPrysmian S.p.A. (OTCMKTS:PRYMY – Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $67.30 and last traded at $66.96, with a volume of 14785 shares changing hands. The stock had previously closed at $61.9860.
Wall Street Analysts Forecast Growth
PRYMY has been the topic of a number of research reports. Zacks Research raised Prysmian to a “hold” rating in a report on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft lowered Prysmian from a “buy” rating to a “hold” rating in a report on Monday, February 9th. Berenberg Bank lowered Prysmian from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Citigroup reaffirmed a “buy” rating on shares of Prysmian in a report on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Prysmian currently has a consensus rating of “Hold”.
Read Our Latest Stock Report on PRYMY
Prysmian Trading Up 7.0%
The business has a 50-day moving average price of $58.44 and a two-hundred day moving average price of $53.48. The stock has a market capitalization of $38.07 billion and a P/E ratio of 133.61.
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.