Persimmon (OTCMKTS:PSMMY) Shares Gap Down – Here’s Why

Shares of Persimmon Plc (OTCMKTS:PSMMY) gapped down before the market opened on Wednesday . The stock had previously closed at $29.94, but opened at $28.52. Persimmon shares last traded at $28.67, with a volume of 3,562 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on PSMMY. Morgan Stanley reaffirmed an “overweight” rating on shares of Persimmon in a research note on Tuesday, April 14th. Citigroup reaffirmed a “buy” rating on shares of Persimmon in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Persimmon Price Performance

The stock’s 50 day simple moving average is $30.98 and its two-hundred day simple moving average is $34.51.

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.