Pennon Group Plc (OTCMKTS:PEGRF) Sees Significant Decrease in Short Interest

Pennon Group Plc (OTCMKTS:PEGRF) saw a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 1,222,547 shares, a decline of 22.7% from the February 12th total of 1,580,950 shares. Based on an average daily trading volume, of 58 shares, the days-to-cover ratio is currently 21,078.4 days. Based on an average daily trading volume, of 58 shares, the days-to-cover ratio is currently 21,078.4 days.

Pennon Group Price Performance

OTCMKTS PEGRF opened at $7.56 on Friday. Pennon Group has a 1-year low of $4.89 and a 1-year high of $7.85. The business’s 50-day simple moving average is $7.46 and its 200-day simple moving average is $7.01.

Wall Street Analysts Forecast Growth

PEGRF has been the topic of several research analyst reports. Citigroup raised shares of Pennon Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 20th. Jefferies Financial Group downgraded shares of Pennon Group to a “hold” rating in a research note on Friday, January 23rd. Finally, Morgan Stanley upgraded shares of Pennon Group from an “equal weight” rating to an “overweight” rating in a report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

About Pennon Group

Pennon Group plc is a UK‐based infrastructure and environmental services company, best known for its water and wastewater operations in the south‐west of England and its waste management and recycling businesses across the United Kingdom. Through its regulated water utility subsidiary, South West Water, Pennon provides drinking water supply, sewage collection and treatment, and sewerage services to residential, industrial and commercial customers in Cornwall, Devon and parts of Dorset and Somerset.