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

Persimmon Plc (OTCMKTS:PSMMY) saw unusually-high trading volume on Wednesday . Approximately 28,024 shares were traded 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 subject of several research reports. Citigroup reiterated a “buy” rating on shares of Persimmon in a research report on Wednesday, January 14th. The Goldman Sachs Group assumed coverage on shares of Persimmon in a report on Monday, November 24th. They set a “buy” rating for the company. Finally, Royal Bank Of Canada upgraded shares of Persimmon from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat, Persimmon has a consensus rating of “Buy”.

Persimmon Stock Down 0.4%

The company has a fifty day simple moving average of $38.27 and a 200-day simple moving average of $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.