PennantPark Investment Corporation (NYSE:PNNT) finished Wednesday with an addition of $0.15 to close at $6.81, an upside of 2.25 percent. An average of 442,825 shares of common stock have been traded in the last five days. There was a gain of $0.30 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 401,676 shares traded, while the 50-day average volume stands at 366,692.
PNNT stock has increased by 9.66% in the last month. The company shares reached their 1-month lowest point of $6.07 on 07/11/23. With the stock rallying to its 52-week high on 08/10/23, shares of the company touched a low of $4.70 and a high of $6.76 in 52 weeks. It has reached a new high 20 times so far this year and achieved 18.43% or $1.09 in price. In spite of this, the price is up 0.74% from the 52-week high.
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Valuation Metrics
PennantPark Investment Corporation (PNNT) stock’s beta is 1.60. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.75, the price-to-book (PB) ratio at 0.90.
Financial Health
Its gross profit as reported stood at $82.48 million compared to revenue of $104.97 million.
Earnings Surprise
For the three-month period that ended June 29, PennantPark Investment Corporation had $367.31 million in total debt. The analyst consensus anticipated PennantPark Investment Corporation’s latest quarter earnings to come in at $0.29 per share, but it turned out to be $0.35, a 20.70% surprise. For the quarter, EBITDA amounted to $22.69 million. Shareholders own equity worth $65.22 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at PennantPark Investment Corporation (PNNT) price momentum. RSI 9-day as of the close on 09 August was 81.38%, suggesting the stock is Overbought, with historical volatility in this time frame at 16.35%.
As of today, PNNT’s price is $6.70 +4.66% or $0.30 from its 5-day moving average. PNNT is currently trading +10.05% higher than its 20-day SMA and +37.17% higher than its 100-day SMA. However, the stock’s current price level is +23.78% above the SMA50 and +23.33% above the SMA200.
The stochastic %K and %D were 76.95% and 83.53%, respectively, and the average true range (ATR) was 0.14. With the 14-day stochastic at 68.75% and the average true range at 0.13, the RSI (14) stands at 79.13%. The stock has reached 0.08 on the 9-day MACD Oscillator while the 14-day reading was at 0.15.
Analyst Ratings
Keefe Bruyette downgraded PennantPark Investment Corporation (NYSE: PNNT) to a a Mkt perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for PennantPark Investment Corporation (PNNT) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PNNT, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 3 others rate it as a “buy”.
What is PNNT’s price target for the next 12 months?
Analysts predict a range of price targets between $6.00 and $7.00, with a median target of $6.50. Taking a look at these predictions, the average price target given by analysts for PennantPark Investment Corporation (PNNT) stock is $6.53.
