Pennon Group (OTCMKTS:PEGRF) Stock Falls 11.2% – What’s Next?

Pennon Group Plc (OTCMKTS:PEGRF)’s stock price dropped 11.2% during mid-day trading on Monday. The stock traded as low as $5.7480 and last traded at $5.7480. 107 shares changed hands during trading, a decline of 92% from the average daily volume of 1,285 shares. The stock had previously closed at $6.47.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Pennon Group in a research note on Monday, June 8th. BNP Paribas Exane assumed coverage on Pennon Group in a research note on Monday, June 29th. They set an “outperform” rating on the stock. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Pennon Group in a report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Pennon Group Stock Down 11.2%

The business’s 50 day simple moving average is $6.35 and its 200-day simple moving average is $6.63.

About Pennon Group

Pennon Group plc is a United Kingdom-based water and wastewater services company. Through its regulated water businesses, the group provides drinking water, wastewater collection and treatment, sewerage, and related services to households, businesses, and other customers.

Pennon’s principal operating companies include South West Water, which serves Devon, Cornwall, the Isles of Scilly, and parts of Dorset, and Bournemouth Water, which supplies customers in parts of Dorset and Hampshire.