Short Interest in Pennon Group Plc (OTCMKTS:PEGRF) Grows By 22.9%

Pennon Group Plc (OTCMKTS:PEGRF) was the target of a large growth in short interest in 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 trading volume, of 2,000 shares, the short-interest ratio is presently 834.2 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PEGRF shares. Citigroup upgraded shares of Pennon Group from a “neutral” rating to a “buy” rating in a research report on Monday, March 10th. Royal Bank of Canada raised Pennon Group from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, February 4th.

Pennon Group Stock Performance

PEGRF stock traded up $0.53 on Thursday, reaching $6.21. The company’s stock had a trading volume of 189 shares, compared to its average volume of 5,313. The business has a fifty day simple moving average of $5.45 and a two-hundred day simple moving average of $6.61. Pennon Group has a 12-month low of $4.89 and a 12-month 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.