Pennon Group Plc (OTCMKTS:PEGRF) Short Interest Update

Pennon Group Plc (OTCMKTS:PEGRF) was the target of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 1,222,547 shares, a drop of 22.7% from the February 12th total of 1,580,950 shares. Based on an average trading volume of 58 shares, the short-interest ratio is presently 21,078.4 days. Based on an average trading volume of 58 shares, the short-interest ratio is presently 21,078.4 days.

Pennon Group Price Performance

PEGRF opened at $7.56 on Friday. The company has a fifty day simple moving average of $7.46 and a 200 day simple moving average of $7.01. Pennon Group has a twelve month low of $4.89 and a twelve month high of $7.85.

Wall Street Analysts Forecast Growth

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

Pennon Group Company Profile

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.