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

Persimmon Plc (OTCMKTS:PSMMY) saw strong trading volume on Wednesday . 25,801 shares traded hands during mid-day trading, an increase of 51% from the previous session’s volume of 17,049 shares.The stock last traded at $36.02 and had previously closed at $35.4775.

Analysts Set New Price Targets

Several brokerages recently issued reports on PSMMY. Citigroup reaffirmed a “buy” rating on shares of Persimmon in a research report on Tuesday, December 9th. The Goldman Sachs Group initiated coverage on Persimmon in a research note on Monday, November 24th. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada raised shares of Persimmon from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Persimmon Stock Performance

The company has a 50 day simple moving average of $33.76 and a two-hundred day simple moving average of $32.65.

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.