Persimmon (OTCMKTS:PSMMY) Sees Strong Trading Volume – Here’s Why

Persimmon Plc (OTCMKTS:PSMMY) shares saw strong trading volume on Monday . 25,955 shares were traded during trading, an increase of 444% from the previous session’s volume of 4,773 shares.The stock last traded at $36.50 and had previously closed at $37.25.

Wall Street Analysts Forecast Growth

Several research firms have commented on PSMMY. The Goldman Sachs Group started coverage on Persimmon in a research report on Monday, November 24th. They issued a “buy” rating for the company. Citigroup reiterated a “buy” rating on shares of Persimmon in a report on Tuesday, December 9th. 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 research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy”.

Persimmon Stock Performance

The stock has a 50-day moving average price of $34.33 and a 200-day moving average price of $32.61.

Persimmon Company Profile

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.