Pennon Group (OTCMKTS:PEGRF) Trading 12.1% Higher – Here’s What Happened

Shares of Pennon Group Plc (OTCMKTS:PEGRF) rose 12.1% during trading on Friday . The company traded as high as $6.50 and last traded at $6.50. 766 shares were traded during mid-day trading, a decline of 52% from the average session volume of 1,607 shares. The stock had previously closed at $5.80.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating on shares of Pennon Group in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Pennon Group in a report on Monday, June 8th. Finally, BNP Paribas Exane started coverage on shares of Pennon Group in a research note on Monday, June 29th. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Pennon Group currently has an average rating of “Moderate Buy”.

Pennon Group Stock Performance

The stock has a 50 day simple moving average of $6.35 and a 200-day simple moving average of $6.99.

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.