PennantPark Investment Corp. (PNNT) Sets New 1-Year High at $8.00
PennantPark Investment Corp. (NASDAQ:PNNT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $8.00 and last traded at $7.97, with a volume of 129,740 shares changing hands. The stock had previously closed at $7.89.
Several research firms have issued reports on PNNT. Zacks Investment Research raised shares of PennantPark Investment Corp. from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a report on Thursday, August 11th. Jefferies Group reiterated a “hold” rating on shares of PennantPark Investment Corp. in a research report on Friday, August 12th. JMP Securities increased their target price on shares of PennantPark Investment Corp. from $7.50 to $8.50 and gave the company a “market outperform” rating in a research report on Wednesday, August 10th. FBR & Co increased their target price on shares of PennantPark Investment Corp. from $7.50 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, August 9th. Finally, DA Davidson cut shares of PennantPark Investment Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $7.00 in a research report on Wednesday, July 27th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.36.
The firm’s 50 day moving average price is $7.50 and its 200 day moving average price is $6.64.
PennantPark Investment Corp. (NASDAQ:PNNT) last issued its earnings results on Monday, August 8th. The company reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The company had revenue of $35.54 million for the quarter, compared to analysts’ expectations of $35.47 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. PennantPark Investment Corp.’s revenue for the quarter was down 12.5% on a year-over-year basis. Analysts forecast 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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