Persimmon (OTCMKTS:PSMMY) Sees Large Volume Increase – Time to Buy?

Persimmon Plc (OTCMKTS:PSMMY) saw strong trading volume on Wednesday . 28,024 shares changed hands during mid-day trading, an increase of 127% from the previous session’s volume of 12,324 shares.The stock last traded at $41.32 and had previously closed at $41.26.

Wall Street Analysts Forecast Growth

PSMMY has been the topic of several analyst reports. Citigroup reaffirmed a “buy” rating on shares of Persimmon in a research report on Wednesday, January 14th. Royal Bank Of Canada upgraded Persimmon from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Finally, The Goldman Sachs Group started coverage on Persimmon in a research note on Monday, November 24th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Persimmon Price Performance

The company’s fifty day moving average is $38.27 and its two-hundred day moving average is $34.11.

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.