Persimmon (OTCMKTS:PSMMY) Shares Gap Down – Time to Sell?

Persimmon Plc (OTCMKTS:PSMMY)’s stock price gapped down prior to trading on Monday. The stock had previously closed at $33.29, but opened at $31.67. Persimmon shares last traded at $31.99, with a volume of 2,735 shares trading hands.

Analysts Set New Price Targets

Several brokerages have weighed in on PSMMY. Deutsche Bank Aktiengesellschaft raised shares of Persimmon from a “hold” rating to a “buy” rating in a research note on Friday, August 7th. UBS Group initiated coverage on Persimmon in a report on Wednesday, September 9th. They issued a “buy” rating on the stock. Finally, Zacks Research upgraded Persimmon from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Persimmon Price Performance

The stock has a fifty day moving average of $31.36 and a 200-day moving average of $29.86. The company has a quick ratio of 0.34, a current ratio of 4.21 and a debt-to-equity ratio of 0.07.

Persimmon Company Profile

Persimmon plc is a United Kingdom-based housebuilding company that develops, constructs and sells residential properties. Its portfolio includes homes designed for first-time buyers, families and other owner-occupiers, ranging from apartments and smaller houses to larger family properties.

The company operates through several established brands, including Persimmon Homes, Charles Church and Westbury Partnerships. In addition to private-market housing, its activities include working with housing associations and other partners to provide affordable and social housing.