Pennon Group (OTCMKTS:PEGRF) Stock Price Down 3.7% – Here’s Why

Pennon Group Plc (OTCMKTS:PEGRF) shares traded down 3.7% on Tuesday . The stock traded as low as $7.19 and last traded at $7.19. 746 shares changed hands during trading, a decline of 64% from the average session volume of 2,075 shares. The stock had previously closed at $7.47.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PEGRF. Citigroup raised Pennon Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 20th. Morgan Stanley upgraded Pennon Group from an “equal weight” rating to an “overweight” rating in a research report on Friday. Finally, Jefferies Financial Group downgraded Pennon Group to a “hold” rating in a report on Friday, January 23rd. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Pennon Group presently has a consensus rating of “Moderate Buy”.

Pennon Group Trading Down 3.7%

The company’s 50-day moving average is $7.10 and its two-hundred day moving average is $6.82.

Pennon Group Company Profile

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.