The stock of PennantPark Investment Corporation (NYSE:PNNT) decreased by -$0.08 on Friday to finish at $6.84, down -1.16 percent. The last five days have seen an average of 642,380 shares of common stock traded. 20 times new highs were reached in the current year, with a gain of $1.09. The average number of shares traded over the last 20 days was 443,555, while the average volume over the last 50 days totaled 387,718.
PNNT stock appreciated 9.97% since last month. On 07/13/23, the company’s shares reached a one-month low of $6.14. The stock touched a high of $7.07 on 08/10/23, after rallying from a low of $4.70 in 52 weeks. The price of PNNT stock has risen by 18.96% or $1.09 this year, reaching a new high 20 times. Still, the stock price is down -3.25% from the 52-week high.
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Insider Transactions
PNNT stock investors should be aware that PennantPark Investment Corporation (PNNT) stock had its last reported insider trading activity 66 days ago on Jun 09. On Jun 09, Director KATZ SAMUEL L acquired 8,000 shares at $5.86 each. This transaction resulted in the insider spending $46,876. On Jun 02, KATZ SAMUEL L added 10,000 shares at a price of US$5.54. After the transaction, the insider now owns 66,710 shares. Director KATZ SAMUEL L had earlier bought 15,000 shares on Jun 01 for $5.49 a share. The transaction was completed for $82,296.
Financial Health
Based on annual data, it had gross profit of $82.48 million and revenue of $104.97 million.
Earnings Surprise
According to PennantPark Investment Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that PennantPark Investment Corporation’s quarterly earnings would be $0.35, but it ended up being $0.29, beating the consensus by 20.70%. EBITDA was $42.61 million for the quarter. Equity owned by shareholders amounts to $65.22 million.
Technical Picture
Here’s a quick look at PennantPark Investment Corporation’s (PNNT) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 73.16%, suggesting the stock is Overbought, with a 22.71% historical volatility rate.
The stochastic %K and %D were 75.01% and 79.81% respectively, while the average true range (ATR) was 0.15. Based on the 14-day stochastic reading of 67.61%, the RSI (14) reading is 73.75%. On the 9-day MACD Oscillator, the stock is at 0.13, and the 14-day reading is at 0.19.
Analyst Ratings
PennantPark Investment Corporation (NYSE: PNNT) was downgraded by Keefe Bruyette to a a Mkt perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned PennantPark Investment Corporation (PNNT) an Overweight rating. PNNT is a stock that is recommended for selling by 0 brokerage firms, while 5 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 3 others recommend it as a buy.
What is PNNT’s price target for the next 12 months?
The current consensus forecast for the stock is between $6.50 and $8.00, with a median target price of $7.00. In analyzing these forecasts, the average price target given by analysts for PennantPark Investment Corporation (PNNT) is $7.00.
