Persimmon (OTCMKTS:PSMMY) Shares Gap Up – Still a Buy?

Persimmon Plc (OTCMKTS:PSMMY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $31.5450, but opened at $32.72. Persimmon shares last traded at $32.72, with a volume of 102 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on PSMMY. Zacks Research raised Persimmon from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft raised Persimmon from a “hold” rating to a “buy” rating in a report on Friday, August 7th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Persimmon currently has a consensus rating of “Moderate Buy”.

Persimmon Stock Performance

The stock has a fifty day simple moving average of $29.49 and a 200-day simple moving average of $31.19.

About Persimmon

Persimmon plc (OTCMKTS:PSMMY) is a leading United Kingdom–based residential property developer primarily engaged in the design, construction and sale of new homes. The company’s product range spans starter homes for first-time buyers, family houses and executive properties, addressing a broad spectrum of customer needs. Persimmon also offers warranty and after-sales services through its in-house customer care teams, ensuring ongoing support for homeowners.

Founded in 1972 and headquartered in York, North Yorkshire, Persimmon has grown from a regional builder into one of the UK’s most prolific housebuilders.