Pennon Group (OTCMKTS:PEGRF) Trading 6.8% Higher – Should You Buy?

Shares of Pennon Group Plc (OTCMKTS:PEGRF) rose 6.8% during trading on Thursday . The company traded as high as $7.86 and last traded at $7.86. Approximately 346 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,468 shares. The stock had previously closed at $7.36.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PEGRF shares. Morgan Stanley raised shares of Pennon Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 23rd. Jefferies Financial Group lowered Pennon Group to a “hold” rating in a research report on Friday, January 23rd. Finally, Citigroup upgraded Pennon Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Pennon Group Stock Performance

The business’s 50 day moving average price is $7.26 and its 200-day moving average price is $7.19.

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.