Persimmon (OTCMKTS:PSMMY) Shares Gap Up - What's Next?

Key Points

• Persimmon Plc's stock price increased significantly, opening at $33.43 after closing at $31.81, with recent trading at $33.53.
• Analysts have provided positive ratings for Persimmon, with Citigroup maintaining a "buy" rating and Kepler Capital Markets upgrading it to a "strong-buy."
• The average rating for Persimmon shares is currently "Buy", with one analyst rating it as "Strong Buy," two as "Buy," and one as "Hold."

Persimmon Plc (OTCMKTS:PSMMY - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $31.81, but opened at $33.43. Persimmon shares last traded at $33.53, with a volume of 1,051 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSMMY. Citigroup reiterated a "buy" rating on shares of Persimmon in a report on Thursday, August 14th. Kepler Capital Markets upgraded shares of Persimmon to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada upgraded shares of Persimmon from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy".

Persimmon Stock Performance

The company's 50-day simple moving average is $30.40 and its 200-day simple moving average is $32.75.

About Persimmon

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4.

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