Pennon Group Plc (OTCMKTS:PEGRF) Short Interest Update

Pennon Group Plc (OTCMKTS:PEGRF) was the target of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 1,030,074 shares, a decline of 15.7% from the February 26th total of 1,222,547 shares. Based on an average daily volume of 54 shares, the short-interest ratio is currently 19,075.4 days.

Pennon Group Stock Performance

OTCMKTS PEGRF opened at $6.95 on Monday. The business has a 50 day moving average price of $7.35 and a two-hundred day moving average price of $7.08. Pennon Group has a fifty-two week low of $5.13 and a fifty-two week high of $7.85.

Analysts Set New Price Targets

PEGRF has been the topic of several recent analyst reports. Jefferies Financial Group downgraded Pennon Group to a “hold” rating in a research report on Friday, January 23rd. Citigroup raised shares of Pennon Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 20th. 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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.