Short Interest in Pennon Group Plc (OTCMKTS:PEGRF) Drops By 15.7%

Pennon Group Plc (OTCMKTS:PEGRF) was the recipient of a large drop in short interest in March. As of March 13th, there was short interest totaling 1,030,074 shares, a drop of 15.7% from the February 26th total of 1,222,547 shares. Based on an average daily volume of 54 shares, the days-to-cover ratio is currently 19,075.4 days.

Analyst Upgrades and Downgrades

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

Pennon Group Price Performance

Shares of OTCMKTS:PEGRF opened at $6.95 on Monday. The company’s fifty day moving average is $7.35 and its two-hundred day moving average is $7.08. Pennon Group has a 1-year low of $5.13 and a 1-year high of $7.85.

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.