Persimmon (OTCMKTS:PSMMY) Shares Pass Below 50 Day Moving Average – Time to Sell?

Shares of Persimmon Plc (OTCMKTS:PSMMY) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $38.67 and traded as low as $34.9050. Persimmon shares last traded at $35.23, with a volume of 6,568 shares trading hands.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Royal Bank Of Canada raised Persimmon from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Citigroup restated a “buy” rating on shares of Persimmon in a research note on Wednesday, January 14th. Finally, The Goldman Sachs Group began coverage on Persimmon in a research note on Monday, November 24th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat.com, Persimmon presently has a consensus rating of “Buy”.

Persimmon Trading Down 2.9%

The firm has a fifty day moving average price of $38.67 and a 200 day moving average price of $34.46.

About Persimmon

Persimmon plc (OTCMKTS:PSMMY) is a leading United Kingdom–based residential property developer primarily engaged in the design, construction and sale of new homes. The company’s product range spans starter homes for first-time buyers, family houses and executive properties, addressing a broad spectrum of customer needs. Persimmon also offers warranty and after-sales services through its in-house customer care teams, ensuring ongoing support for homeowners.

Founded in 1972 and headquartered in York, North Yorkshire, Persimmon has grown from a regional builder into one of the UK’s most prolific housebuilders.