Shares of PennantPark Investment Corp. (NASDAQ:PNNT) hit a new 52-week high on Monday . The stock traded as high as $8.06 and last traded at $8.05, with a volume of 346,300 shares trading hands. The stock had previously closed at $7.97.

Several analysts have recently weighed in on PNNT shares. Zacks Investment Research lowered shares of PennantPark Investment Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. JMP Securities lifted 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. Jefferies Group reiterated a “hold” rating on shares of PennantPark Investment Corp. in a research report on Friday, August 5th. JPMorgan Chase & Co. lowered shares of PennantPark Investment Corp. from an “overweight” rating to a “neutral” rating and set a $7.00 target price on the stock. in a research report on Monday, July 18th. Finally, FBR & Co lifted 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. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.36.

The firm has a 50-day moving average price of $7.54 and a 200 day moving average price of $6.66.

PennantPark Investment Corp. (NASDAQ:PNNT) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The company earned $35.54 million during the quarter, compared to the consensus estimate of $35.47 million. PennantPark Investment Corp.’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. Analysts anticipate that PennantPark Investment Corp. will post $1.03 EPS for the current fiscal 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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