Pennon Group Plc (OTCMKTS:PEGRY) Sees Large Increase in Short Interest

Pennon Group Plc (OTCMKTS:PEGRY) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 3,316 shares, an increase of 187.3% from the August 15th total of 1,154 shares. Based on an average daily trading volume, of 8,431 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Pennon Group to a “hold” rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Pennon Group Trading Up 0.6%

Shares of PEGRY opened at $12.09 on Friday. Pennon Group has a fifty-two week low of $11.89 and a fifty-two week high of $16.35. The firm has a 50-day simple moving average of $12.59 and a 200-day simple moving average of $13.53.

Pennon Group Company Profile

Pennon Group plc is a United Kingdom-based water and wastewater services company. Through its regulated water businesses, the group supplies drinking water, collects and treats wastewater, and manages related infrastructure and environmental services for household and business customers.

Pennon’s principal operating company is South West Water, which serves Cornwall, Devon, the Isles of Scilly and parts of Dorset. The group also owns Bournemouth Water, which supplies customers in parts of Dorset and Hampshire.