Persimmon (OTCMKTS:PSMMY) Reaches New 1-Year Low – What’s Next?

Persimmon Plc (OTCMKTS:PSMMY) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $26.71 and last traded at $26.84, with a volume of 49041 shares changing hands. The stock had previously closed at $27.76.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PSMMY. Morgan Stanley restated an “overweight” rating on shares of Persimmon in a research note on Tuesday, April 14th. Zacks Research lowered shares of Persimmon from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Persimmon presently has a consensus rating of “Moderate Buy”.

Persimmon Stock Performance

The firm’s 50-day simple moving average is $28.52 and its 200 day simple moving average is $32.89.

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.