Pennon Group (LON:PNN) Stock Crosses Below Fifty Day Moving Average of $1,260.21

Pennon Group Plc (LON:PNN)’s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 1,260.21 ($16.46) and traded as low as GBX 1,238 ($16.17). Pennon Group shares last traded at GBX 1,247 ($16.29), with a volume of 671,598 shares.

Several research firms have commented on PNN. Deutsche Bank Aktiengesellschaft downgraded Pennon Group to a “hold” rating in a report on Tuesday, June 22nd. reaffirmed a “neutral” rating and set a GBX 1,072 ($14.01) price target on shares of Pennon Group in a report on Thursday, June 10th. Finally, Credit Suisse Group downgraded Pennon Group to an “underperform” rating and set a GBX 1,020 ($13.33) price target on the stock. in a report on Monday, August 23rd.

The stock has a market capitalization of £3.47 billion and a P/E ratio of 1.99. The company has a quick ratio of 12.86, a current ratio of 14.04 and a debt-to-equity ratio of 96.45. The business has a fifty day moving average price of GBX 1,260.21 and a 200-day moving average price of GBX 1,117.46.

In other news, insider Paul Boote sold 2,109 shares of the company’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of GBX 1,304 ($17.04), for a total transaction of £27,501.36 ($35,930.70).

About Pennon Group (LON:PNN)

Pennon Group Plc engages in the environmental infrastructure businesses in the United Kingdom, rest of European Union, China, and internationally. The company's Water segment comprises the regulated water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset; and water services in the areas of Dorset, Hampshire, and Wiltshire.

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