A Peek At What PennantPark Floating Rate Capital Ltd. (PFLT) Insiders Are Doing

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PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) saw a downside of -9.40% to close Tuesday at $10.70 after subtracting -$1.11 on the day. The 5-day average trading volume is 1,211,320 shares of the company’s common stock. It has gained $12.09 in the past week and touched a new high 1 time within the past 5 days. An average of 473,045 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 323,404.

PFLT’s 1-month performance is -2.01% or -$0.29 on its low of $9.72 reached on 01/24/23. The company’s shares have touched a 52-week low of $9.43 and high of $14.38, with the stock’s rally to the 52-week high happening on 01/12/23. YTD, PFLT has lost -2.55% or -$0.28 and has reached a new high 6 times. However, the current price is down -25.59% from the 52-week high price.

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Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.60 while the price-to-book (PB) in the most recent quarter is 0.92.

The firm’s gross profit as reported stood at $48.58 million against revenue of $105.48 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected PFLT to announce $0.29 per share in earnings in its latest quarter, but it posted $0.29, representing a 0.00% surprise. EBITDA for the quarter stood at more than $47.56 million. Shareholders hold equity totaling $45.35 million.

Let’s look briefly at PennantPark Floating Rate Capital Ltd. (PFLT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 28.45% to suggest the stock is trending oversold, with historical volatility in this time period at 53.42%.

The stock’s 5-day moving average is $11.54, reflecting a -12.01% or -$1.46 change from its current price. PFLT is currently trading -0.83% above its 20-day SMA, -12.22% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -4.80% and SMA200 by-21.90%.

Stochastic %K and %D was 51.63% and 56.35% and the average true range (ATR) pointed at 0.44. The RSI (14) points at 35.30%, while the 14-day stochastic is at 37.55% with the period’s ATR at 0.37. The stock’s 9-day MACD Oscillator is pointing at -0.38 and -0.24 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for PennantPark Floating Rate Capital Ltd. (NYSE: PFLT), Oppenheimer launched coverage with a Perform rating. Analysts offering their rating for PFLT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate PFLT as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.

What is PFLT’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $11.00 and a high of $13.00, with their median price target at $12.75. Looking at these predictions, the average price target given by analysts is for PennantPark Floating Rate Capital Ltd. (PFLT) stock is $12.38.

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