Pennon Group Plc (OTCMKTS:PEGRY) Sees Large Growth in Short Interest

Pennon Group Plc (OTCMKTS:PEGRY) was the recipient of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 18,622 shares, an increase of 68.8% from the May 14th total of 11,033 shares. Based on an average daily volume of 9,891 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.0% of the shares of the stock are sold short.

Pennon Group Stock Down 1.4%

OTCMKTS:PEGRY traded down $0.18 on Wednesday, hitting $12.36. The stock had a trading volume of 1,032 shares, compared to its average volume of 12,126. The company has a fifty day moving average price of $14.07 and a two-hundred day moving average price of $14.43. Pennon Group has a 1-year low of $11.80 and a 1-year high of $16.35. The stock has a market cap of $2.92 billion and a price-to-earnings ratio of 22.31.

Analyst Ratings Changes

Separately, Zacks Research upgraded Pennon Group to a “hold” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Pennon Group Company Profile

Pennon Group (OTCMKTS:PEGRY) is a UK‐based utilities and environmental services company that operates through two main businesses: South West Water and Viridor. The group provides water supply, wastewater treatment and collection services to residential, commercial and industrial customers in the South West of England. Its water division serves regional communities with drinking water production, network maintenance and sewage treatment, while ensuring compliance with regulatory standards for water quality and environmental protection.

South West Water, Pennon’s core water operations arm, manages water resources and distribution infrastructure across Cornwall, Devon and parts of Dorset and Somerset.