Persimmon (OTCMKTS:PSMMY) Shares Gap Up – Still a Buy?

Shares of Persimmon Plc (OTCMKTS:PSMMY) gapped up before the market opened on Wednesday . The stock had previously closed at $27.18, but opened at $28.22. Persimmon shares last traded at $28.64, with a volume of 16,866 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PSMMY shares. Zacks Research lowered Persimmon from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 18th. Morgan Stanley restated an “overweight” rating on shares of Persimmon in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Persimmon Price Performance

The stock has a 50 day moving average price of $29.04 and a 200-day moving average price of $33.39.

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.