Pennon Group (OTCMKTS:PEGRF) Trading 12.1% Higher – Here’s What Happened

Shares of Pennon Group Plc (OTCMKTS:PEGRF) shot up 12.1% during mid-day trading on Friday . The company traded as high as $6.50 and last traded at $6.50. 766 shares were traded during trading, a decline of 52% from the average daily volume of 1,607 shares. The stock had previously closed at $5.80.

Wall Street Analysts Forecast Growth

PEGRF has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Pennon Group in a report on Monday, June 8th. Morgan Stanley reissued an “overweight” rating on shares of Pennon Group in a report on Wednesday, June 24th. Finally, BNP Paribas Exane began coverage on Pennon Group in a research note on Monday, June 29th. They issued an “outperform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Pennon Group Price Performance

The stock’s 50-day simple moving average is $6.35 and its two-hundred day simple moving average is $6.99.

Pennon Group Company Profile

Pennon Group plc is a UK‐based infrastructure and environmental services company, best known for its water and wastewater operations in the south‐west of England and its waste management and recycling businesses across the United Kingdom. Through its regulated water utility subsidiary, South West Water, Pennon provides drinking water supply, sewage collection and treatment, and sewerage services to residential, industrial and commercial customers in Cornwall, Devon and parts of Dorset and Somerset.