Pennon Group Plc (OTCMKTS:PEGRF) Sees Large Increase in Short Interest

Pennon Group Plc (OTCMKTS:PEGRF) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,668,400 shares, a growth of 22.9% from the February 28th total of 1,357,900 shares. Based on an average daily volume of 2,000 shares, the days-to-cover ratio is currently 834.2 days.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank of Canada raised shares of Pennon Group from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, February 4th. Citigroup raised shares of Pennon Group from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th.

Pennon Group Stock Performance

Shares of PEGRF stock remained flat at $5.13 during mid-day trading on Tuesday. The stock has a 50-day moving average price of $5.48 and a two-hundred day moving average price of $6.63. Pennon Group has a 1-year low of $4.89 and a 1-year high of $9.48.

About Pennon Group

Pennon Group Plc provides clean water and wastewater services in the United Kingdom. It provides water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset; water-only services in the areas of Dorset, Hampshire, and Wiltshire; and water and wastewater retail services to non-household customers in Great Britain.