Persimmon (OTCMKTS:PSMMY) Stock Price Down 6.6% – Here’s What Happened

Persimmon Plc (OTCMKTS:PSMMY)’s share price traded down 6.6% during mid-day trading on Wednesday. The company traded as low as $32.74 and last traded at $32.74. 6,889 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 25,575 shares. The stock had previously closed at $35.05.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PSMMY. Zacks Research raised Persimmon from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. UBS Group assumed coverage on Persimmon in a report on Wednesday, September 9th. They issued a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded Persimmon from a “hold” rating to a “buy” rating in a report on Friday, August 7th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Persimmon currently has an average rating of “Moderate Buy”.

Persimmon Stock Down 6.6%

The business has a 50 day simple moving average of $32.02 and a two-hundred day simple moving average of $32.06. The company has a current ratio of 4.21, a quick ratio of 0.34 and a debt-to-equity ratio of 0.07.

Persimmon Company Profile

Persimmon plc is a United Kingdom-based housebuilding company that develops, constructs and sells new homes. Its operations include acquiring residential land, obtaining planning approvals, building properties and selling completed homes to private buyers and housing organizations.

The company offers a range of homes, including houses and apartments designed for first-time buyers, families and other purchasers. Through its Persimmon, Charles Church and Westbury Partnerships brands, it also works with housing associations and other partners to provide affordable and social housing.

Persimmon serves communities across England, Scotland and Wales through a network of regional operating businesses.