Short Interest in Nexans S.A. (OTCMKTS:NXPRF) Declines By 42.3%

Nexans S.A. (OTCMKTS:NXPRF) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 581 shares, a decline of 42.3% from the June 15th total of 1,007 shares. Based on an average daily volume of 148 shares, the short-interest ratio is presently 3.9 days.

Analyst Upgrades and Downgrades

NXPRF has been the subject of a number of recent analyst reports. Barclays reaffirmed an “overweight” rating on shares of Nexans in a report on Friday, July 3rd. BNP Paribas Exane began coverage on shares of Nexans in a research report on Wednesday, May 6th. They issued an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nexans in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy”.

Nexans Price Performance

Shares of NXPRF remained flat at $154.92 during trading on Thursday. The business has a fifty day simple moving average of $180.49 and a two-hundred day simple moving average of $159.57. Nexans has a 52 week low of $136.79 and a 52 week high of $201.32.

About Nexans

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.