Persimmon (OTCMKTS:PSMMY) Sees Unusually-High Trading Volume – What’s Next?

Shares of Persimmon Plc (OTCMKTS:PSMMY) saw strong trading volume on Wednesday . 28,024 shares traded hands during mid-day trading, an increase of 127% from the previous session’s volume of 12,324 shares.The stock last traded at $41.32 and had previously closed at $41.26.

Analysts Set New Price Targets

A number of equities research analysts have commented on PSMMY shares. Royal Bank Of Canada upgraded shares of Persimmon from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. The Goldman Sachs Group assumed coverage on shares of Persimmon in a research report on Monday, November 24th. They set a “buy” rating on the stock. Finally, Citigroup restated a “buy” rating on shares of Persimmon in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. Based on data from MarketBeat, Persimmon has a consensus rating of “Buy”.

Persimmon Stock Performance

The stock’s 50 day simple moving average is $38.48 and its 200 day simple moving average is $34.21.

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.