PennantPark Investment Corporation’s recently made public that its Director Briones Jose A acquired Company’s shares for reported $24929.0 on Aug 22. In the deal valued at $6.45 per share,3,865 shares were bought. As a result of this transaction, Briones Jose A now holds 237,364 shares worth roughly $ 1.6 million.
Then, Briones Jose A bought 10,960 shares, generating $74,982 in total proceeds. Upon buying the shares at $6.84, the Director now owns 233,499 shares.
Before that, KATZ SAMUEL L bought 8,000 shares. PennantPark Investment Corporation shares valued at $46,876 were divested by the Director at a price of $5.86 per share. As a result of the transaction, KATZ SAMUEL L now holds 74,710 shares, worth roughly $0.5 million.
Compass Point downgraded its PennantPark Investment Corporation [PNNT] rating to a Neutral from a a Buy in a research note published on Friday. PT values the company’s stock at a premium of 0.3 to its Friday closing price.
Price Performance Review of PNNT
On Friday, PennantPark Investment Corporation [NYSE:PNNT] saw its stock jump 1.66% to $6.73. On the same session, the stock had its day’s lowest price of $6.66, but rose to a high of $6.74. Over the last five days, the stock has gained 3.22%. PennantPark Investment Corporation shares have risen nearly 17.04% since the year began. Nevertheless, the stocks have risen 4.18% over the past one year. While a 52-week high of $7.07 was reached on 08/10/23, a 52-week low of $4.70 was recorded on 05/04/23. SMA at 50 days reached $6.38, while 200 days put it at $5.81. A total of 0.34 million shares were traded, compared to the trading of 0.3 million shares in the previous session.
Levels Of Support And Resistance For PNNT Stock
The 24-hour chart illustrates a support level at 6.68, which if violated will result in even more drops to 6.63. On the upside, there is a resistance level at 6.76. A further resistance level may holdings at 6.79. The Relative Strength Index (RSI) on the 14-day chart is 62.58, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 8.57%. Stochastics %K at 55.00% indicates the stock is a holding.
How much short interest is there in PennantPark Investment Corporation?
A steep rise in short interest was recorded in PennantPark Investment Corporation stocks on Aug 14, 2023, dropping by -0.17 million shares to a total of 0.48 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.65 million shares. There was a decline of -35.37%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.75% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.04.
According to FactSet, PennantPark Investment Corporation’s share price will average $7.06 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.74 percent from its previous closing price of $6.62. Analysts expect PennantPark Investment Corporation stock to reach the higher price of $8.00, while the lowest price estimate is $6.50. However, 9 analysts have rated PNNT stock as an Overweight in their predictions for 2023.