Nexans S.A. (OTCMKTS:NXPRF) Shares Shorted: Short Interest Up 86.7% in September

Nexans S.A. (OTCMKTS:NXPRF) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 34,677 shares, a growth of 86.7% from the August 31st total of 18,571 shares. Based on an average daily volume of 161 shares, the short-interest ratio is currently 215.4 days.

Wall Street Analysts Forecast Growth

Separately, Barclays restated an “overweight” rating on shares of Nexans in a research note on Friday, July 3rd. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Nexans presently has an average rating of “Buy”.

Nexans Price Performance

OTCMKTS NXPRF remained flat at $155.11 during trading hours on Wednesday. The company’s stock had a trading volume of 150 shares, 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 company’s 50 day moving average is $158.31 and its 200 day moving average is $161.85.

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.