Persimmon Plc (OTCMKTS:PSMMY) Short Interest Up 136.4% in September

Persimmon Plc (OTCMKTS:PSMMY) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,600 shares, an increase of 136.4% from the September 15th total of 1,100 shares. Based on an average daily trading volume, of 20,400 shares, the days-to-cover ratio is currently 0.1 days.

Several research firms have recently commented on PSMMY. Zacks Investment Research upgraded Persimmon from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Tuesday, October 5th. JPMorgan Chase & Co. upgraded Persimmon to an “overweight” rating in a research note on Thursday, August 19th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Persimmon in a research report on Thursday, August 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $80.00.

Shares of OTCMKTS:PSMMY traded up $2.95 during trading on Thursday, hitting $72.74. 11,499 shares of the stock were exchanged, compared to its average volume of 11,113. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 12.87 and a beta of 1.55. The company’s fifty day simple moving average is $77.01 and its 200-day simple moving average is $83.28. Persimmon has a 1-year low of $60.10 and a 1-year high of $95.50.

Persimmon Company Profile

Persimmon Plc operates as a holding company of the Persimmon Group of companies, which engages in building, designing, and construction of new homes. Its brands include Charles Church, Westbury Partnershisps, Space4, Brickworks, and Tileworks. The company was founded by Duncan Henry Davidson in 1972 and is headquartered in Fulford, the United Kingdom.

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