Persimmon (OTCMKTS:PSMMY) Shares Gap Up – Here’s What Happened

Shares of Persimmon Plc (OTCMKTS:PSMMY) gapped up before the market opened on Wednesday. The stock had previously closed at $32.13, but opened at $33.08. Persimmon shares last traded at $33.08, with a volume of 112 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PSMMY shares. UBS Group initiated coverage on Persimmon in a report on Wednesday, September 9th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Persimmon from a “hold” rating to a “buy” rating in a report on Friday, August 7th. Finally, Zacks Research raised shares of Persimmon from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Persimmon Price Performance

The company has a fifty day moving average price of $31.57 and a 200-day moving average price of $29.94. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.34 and a current ratio of 4.21.

About Persimmon

Persimmon plc is a United Kingdom-based housebuilding company that develops, constructs and sells residential properties. Its portfolio includes homes designed for first-time buyers, families and other owner-occupiers, ranging from apartments and smaller houses to larger family properties.

The company operates through several established brands, including Persimmon Homes, Charles Church and Westbury Partnerships. In addition to private-market housing, its activities include working with housing associations and other partners to provide affordable and social housing.