Persimmon Plc (OTCMKTS:PSMMY) Sees Large Growth in Short Interest

Persimmon Plc (OTCMKTS:PSMMY) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,600 shares, an increase of 136.4% from the September 15th total of 1,100 shares. Based on an average daily volume of 20,400 shares, the short-interest ratio is presently 0.1 days.

Persimmon stock traded up $2.95 during mid-day trading on Thursday, reaching $72.74. The company’s stock had a trading volume of 11,499 shares, compared to its average volume of 11,113. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 12.87 and a beta of 1.55. The business’s 50 day simple moving average is $77.01 and its 200 day simple moving average is $83.28. Persimmon has a 12 month low of $60.10 and a 12 month high of $95.50.

Several research firms have recently issued reports on PSMMY. Zacks Investment Research upgraded shares of Persimmon from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Tuesday, October 5th. JPMorgan Chase & Co. upgraded shares of Persimmon to an “overweight” rating in a research report on Thursday, August 19th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Persimmon in a research report on Thursday, August 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Persimmon has a consensus rating of “Buy” and an average price target of $80.00.

Persimmon Company Profile

Persimmon Plc operates as a holding company of the Persimmon Group of companies, which engages in building, designing, and construction of new homes. Its brands include Charles Church, Westbury Partnershisps, Space4, Brickworks, and Tileworks. The company was founded by Duncan Henry Davidson in 1972 and is headquartered in Fulford, the United Kingdom.

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