As of Friday close, PennantPark Investment Corporation’s (NYSE:PNNT) stock was up $0.03, moving up 0.46 percent to $6.59. The average number of shares traded per day over the past five days has been 569,840 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.25 fall in that time frame. In the last twenty days, the average volume was 487,720, while in the previous 50 days, it was 403,024.
Since last month, PNNT stock rose 4.27%. Shares of the company fell to $6.26 on 07/20/23, the lowest level in the past month. A 52-week high of $7.07 was reached on 08/10/23 after having rallying from a 52-week low of $4.70. Since the beginning of this year, PNNT’s stock price has risen by 14.61% or $0.84, and marked a new high 20 times. However, the stock has declined by -6.79% since its 52-week high.
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Sponsored
PNNT stock investors should be aware that PennantPark Investment Corporation (PNNT) stock had its last reported insider trading activity 5 days ago on Aug 14. Briones Jose A, the Director of the company, purchased of 10,960 shares for $6.84 on Aug 14. It resulted in a $74,982 investment by the insider. KATZ SAMUEL L added 8,000 shares at an average price of $5.86 on Jun 09. The insider now owns 74,710 shares following the transaction. On Jun 02, Director KATZ SAMUEL L bought 10,000 shares at $5.54 apiece. The transaction was valued at $55,354.
Financial Health
Based on annual data, PNNT earned $82.48 million in gross profit and brought in $104.97 million in revenue.
In PennantPark Investment Corporation’s quarter-end financial report for June 29, it reported total debt of $367.31 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected PennantPark Investment Corporation to report $0.29 quarterly earnings, the actual figure was $0.35 per share, beating the consensus estimate by 20.70%. During the quarter, the company generated $42.61 million in EBITDA. The liabilities of PennantPark Investment Corporation were 652.75 million at the end of its most recent quarter ended June 29, and its total debt was $617.12 million. The value of shareholders’ equity is $65.22 million.
Technical Picture
This quick technical analysis looks at PennantPark Investment Corporation’s (PNNT) price momentum. With a historical volatility rate of 24.75%, the RSI 9-day stood at 48.36% on 18 August.
With respect to its five-day moving average, the current PennantPark Investment Corporation price is down by -3.65% percent or -$0.25. At present, PNNT shares trade +3.78% above its 20-day simple moving average and +26.73% percent above its 100-day simple moving average. However, the stock is currently trading approximately +12.84% above its SMA50 and +10.76% above its SMA200.
Stochastic coefficient K was 21.11% and Stochastic coefficient D was 30.66%, while ATR was 0.15. Given the Stochastic reading of 20.00% for the 14-day period, the RSI (14) reading has been calculated as 55.11%. As of today, the MACD Oscillator reading stands at -0.11, while the 14-day reading stands at -0.08.
Analyst Ratings
PennantPark Investment Corporation downgraded its rating on PennantPark Investment Corporation (NYSE: PNNT) to a Neutral in a note to investors on August 15, 2023. The analysts firm previously had a Buy rating on the stock.PennantPark Investment Corporation (PNNT) has been rated Overweight by analysts. According to 0 brokerage firms, PNNT is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate PennantPark Investment Corporation stock as buy, with 2 recommending it as overweight.
With a median target price of $7.00, the current consensus forecast for the stock is $6.50 – $8.00. Based on these forecasts, analysts predict PennantPark Investment Corporation (PNNT) will achieve an average price target of $7.06.
