Nexans S.A. (OTCMKTS:NXPRF) Short Interest Update
by Danessa Lincoln · The Markets DailyNexans S.A. (OTCMKTS:NXPRF – Get Free Report) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 34,677 shares, an increase of 86.7% from the August 31st total of 18,571 shares. Based on an average daily volume of 161 shares, the days-to-cover ratio is currently 215.4 days.
Wall Street Analyst Weigh In
Separately, Barclays restated an “overweight” rating on shares of Nexans in a research report on Friday, July 3rd. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.
Get Our Latest Stock Report on NXPRF
Nexans Trading Down 10.5%
Shares of Nexans stock traded down $18.17 during trading on Tuesday, hitting $155.11. 150 shares of the company were exchanged, compared to its average volume of 578. Nexans has a fifty-two week low of $136.79 and a fifty-two week high of $201.32. The firm has a 50 day moving average price of $158.31 and a 200 day moving average price of $161.78.
About Nexans
Nexans is a France-based company specializing in the design, manufacture and installation of cable and cable-system solutions. Its products support the electrification of power networks, buildings, transportation systems, industrial facilities and data infrastructure.
The company provides low-, medium- and high-voltage cables, subsea and underground transmission systems, distribution cables, wiring solutions and related accessories and services. Nexans also develops cable systems for renewable-energy projects, including offshore wind, as well as solutions for telecommunications, mobility and industrial applications.
Nexans was established in 2000 following the separation of Alcatel’s cable activities, although its business has roots in the cable industry dating to the late 19th century.