Persimmon (OTCMKTS:PSMMY) Trading 9.6% Higher – Time to Buy?

Persimmon Plc (OTCMKTS:PSMMY) traded up 9.6% during mid-day trading on Thursday . The company traded as high as $29.80 and last traded at $29.80. 207 shares changed hands during trading, a decline of 99% from the average daily volume of 38,884 shares. The stock had previously closed at $27.18.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley reissued an “overweight” rating on shares of Persimmon in a research note on Tuesday, April 14th. Zacks Research lowered Persimmon from a “hold” rating to a “strong sell” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Persimmon Price Performance

The company’s 50-day simple moving average is $29.07 and its 200-day simple moving average is $33.44.

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.