Pennon Group (OTCMKTS:PEGRY) Shares Gap Down – Here’s Why

Shares of Pennon Group Plc (OTCMKTS:PEGRY) gapped down before the market opened on Thursday . The stock had previously closed at $13.6750, but opened at $12.82. Pennon Group shares last traded at $12.82, with a volume of 101 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Pennon Group to a “hold” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Pennon Group has an average rating of “Hold”.

Pennon Group Stock Performance

The firm has a market cap of $3.00 billion and a price-to-earnings ratio of 22.31. The business’s 50-day moving average is $14.16 and its 200-day moving average is $14.45.

Pennon Group Company Profile

Pennon Group (OTCMKTS:PEGRY) is a UK‐based utilities and environmental services company that operates through two main businesses: South West Water and Viridor. The group provides water supply, wastewater treatment and collection services to residential, commercial and industrial customers in the South West of England. Its water division serves regional communities with drinking water production, network maintenance and sewage treatment, while ensuring compliance with regulatory standards for water quality and environmental protection.

South West Water, Pennon’s core water operations arm, manages water resources and distribution infrastructure across Cornwall, Devon and parts of Dorset and Somerset.