Persimmon (OTCMKTS:PSMMY) Shares Gap Down – Here’s Why

Persimmon Plc (OTCMKTS:PSMMY)’s stock price gapped down prior to trading on Wednesday. The stock had previously closed at $35.02, but opened at $33.6405. Persimmon shares last traded at $33.6405, with a volume of 262 shares changing hands.

Wall Street Analyst Weigh In

PSMMY has been the topic of a number of analyst reports. Zacks Research raised Persimmon from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. UBS Group started coverage on shares of Persimmon in a research note on Wednesday, September 9th. They issued a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised shares of Persimmon from a “hold” rating to a “buy” rating in a research note on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Persimmon presently has an average rating of “Moderate Buy”.

Persimmon Stock Down 2.3%

The stock has a 50-day moving average price of $32.52 and a 200 day moving average price of $31.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.21 and a quick ratio of 0.34.

About Persimmon

Persimmon plc is a United Kingdom homebuilder that develops and sells new homes to buyers across a range of market segments. Its homes include apartments and houses designed for first-time buyers, families and other purchasers. The company operates through brands including Persimmon Homes and Charles Church, and also works with housing partners to deliver homes for rent and affordable housing. Its developments are located across the UK. Founded in 1972, Persimmon has grown into one of the country’s established residential developers.