Pennon Group (OTCMKTS:PEGRF) Stock Falls 11.2% – Should You Sell?

Pennon Group Plc (OTCMKTS:PEGRF)’s share price dropped 11.2% during mid-day trading on Monday. The stock traded as low as $5.7480 and last traded at $5.7480. 107 shares were traded during trading, a decline of 92% from the average daily volume of 1,285 shares. The stock had previously closed at $6.47.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Pennon Group in a report on Monday, June 8th. Morgan Stanley reiterated an “overweight” rating on shares of Pennon Group in a research note on Wednesday, June 24th. Finally, BNP Paribas Exane assumed coverage on shares of Pennon Group in a research note on Monday, June 29th. They issued an “outperform” rating for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Pennon Group Price Performance

The firm has a 50 day simple moving average of $6.34 and a 200-day simple moving average of $6.62.

About Pennon Group

Pennon Group plc is a United Kingdom-based water and wastewater services company. Through its regulated water businesses, the group provides drinking water, wastewater collection and treatment, sewerage, and related services to households, businesses, and other customers.

Pennon’s principal operating companies include South West Water, which serves Devon, Cornwall, the Isles of Scilly, and parts of Dorset, and Bournemouth Water, which supplies customers in parts of Dorset and Hampshire.