PennantPark Investment Corp. (PNNT) Hits New 52-Week High at $8.00
PennantPark Investment Corp. (NASDAQ:PNNT) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $8.00 and last traded at $7.97, with a volume of 129,740 shares trading hands. The stock had previously closed at $7.89.
A number of brokerages have issued reports on PNNT. Robert W. Baird cut PennantPark Investment Corp. from an “outperform” rating to a “neutral” rating and set a $6.00 price objective for the company. in a research note on Monday, May 2nd. Zacks Investment Research upgraded PennantPark Investment Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Jefferies Group reiterated a “hold” rating on shares of PennantPark Investment Corp. in a research note on Friday, August 5th. JPMorgan Chase & Co. cut PennantPark Investment Corp. from an “overweight” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research note on Monday, July 18th. Finally, DA Davidson cut PennantPark Investment Corp. from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $10.00 to $7.00 in a research note on Wednesday, July 27th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $7.36.
The firm has a 50-day moving average of $7.45 and a 200-day moving average of $6.61.
PennantPark Investment Corp. (NASDAQ:PNNT) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. The firm earned $35.54 million during the quarter, compared to the consensus estimate of $35.47 million. During the same period last year, the company earned $0.28 EPS. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. On average, equities research analysts predict that PennantPark Investment Corp. will post $1.03 EPS for the current year.
PennantPark Investment Corporation (PennantPark Investment) is a business development company focused on generating income and capital appreciation through debt and equity investments in the United States middle-market companies in the form of senior secured loans, mezzanine debt and equity investments.
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