Pennon Group Plc (OTCMKTS:PEGRF) Sees Large Decline in Short Interest

Pennon Group Plc (OTCMKTS:PEGRF) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 1,030,074 shares, a decrease of 15.7% from the February 26th total of 1,222,547 shares. Based on an average daily volume of 54 shares, the short-interest ratio is currently 19,075.4 days.

Pennon Group Price Performance

Shares of PEGRF stock opened at $6.50 on Wednesday. Pennon Group has a one year low of $5.68 and a one year high of $7.85. The company’s 50-day simple moving average is $7.32 and its 200-day simple moving average is $7.07.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PEGRF shares. Jefferies Financial Group downgraded Pennon Group to a “hold” rating in a report on Friday, January 23rd. Morgan Stanley upgraded Pennon Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 23rd. Finally, Citigroup raised shares of Pennon Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

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.