Short Interest in Persimmon Plc (OTCMKTS:PSMMY) Drops By 94.5%

Key Points

• Short interest in Persimmon Plc (OTCMKTS:PSMMY) plunged by 94.5% to 61 shares as of April 15, leaving a days-to-cover ratio of 0.0 and effectively 0.0% of shares sold short.
• Analysts remain broadly bullish with an average MarketBeat rating of Buy; Morgan Stanley reiterated "overweight" and Citigroup "buy" (one Strong Buy, four Buy ratings total).
• Shares traded at $30.17 mid-day (up $0.25) on below-average volume and sit below their 50-day ($33.36) and 200-day ($34.66) moving averages, inside a 12-month range of $27.82–$41.84.

Persimmon Plc (OTCMKTS:PSMMY - Get Free Report) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totaling 61 shares, a decline of 94.5% from the March 31st total of 1,118 shares. Based on an average daily trading volume, of 59,466 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of Persimmon in a research note on Tuesday, April 14th. Citigroup reaffirmed a "buy" rating on shares of Persimmon in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy".

Persimmon Price Performance

Persimmon stock traded up $0.25 during mid-day trading on Friday, reaching $30.17. 11,742 shares of the company's stock traded hands, compared to its average volume of 28,943. The stock has a 50 day moving average of $33.36 and a two-hundred day moving average of $34.66. Persimmon has a 12-month low of $27.82 and a 12-month high of $41.84.

Persimmon Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.