Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. PennantPark Investment Corporation shares valued at $33,978 were purchased by Allorto Richard T JR on Mar 12 ’24. At $6.80 per share, Allorto Richard T JR acquired 5,000 shares. The insider’s holdings grew to 15,000 shares worth approximately $0.11 million following the completion of this transaction.
Also, Briones Jose A purchased 6,122 shares, netting a total of over 41,970 in proceeds. Following the buying of shares at $6.86 each, the insider now holds 261,657 shares.
Before that, Briones Jose A had added 1,166 shares to its account. In a trade valued at $7,996, the Director bought PennantPark Investment Corporation shares for $6.86 each. Upon closing the transaction, the insider’s holdings increased to 1,166 shares, worth approximately $72847.65.
As published in a research note from Compass Point on August 15, 2023, PennantPark Investment Corporation [PNNT] has been rated down from a Buy to a Neutral and the price target has been revised to $6.75. Analysts at Keefe Bruyette downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early February. As of November 19, 2021, JP Morgan has increased its “an Underweight” rating to a “Neutral” for PNNT. Earlier on July 09, 2021, Oppenheimer initiated its rating. Their recommendation was “a Perform” for PNNT stock.
Analyzing PNNT Stock Performance
During the last five days, there has been a drop of approximately -1.81%. Over the course of the year, PennantPark Investment Corporation shares have jumped approximately 2.03%. Shares of the company reached a 52-week high of $7.27 on 04/24/24 and a 52-week low of $6.55 on 02/20/24. A 50-day SMA is recorded $6.85, while a 200-day SMA reached $6.67. Nevertheless, trading volume fell to 0.56 million shares from 0.17 million shares the previous day.
Support And Resistance Levels for PennantPark Investment Corporation (PNNT)
According to the 24-hour chart, there is a support level at 6.99, which, if violated, would cause prices to drop to 6.94. In the upper region, resistance lies at 7.14. The next price resistance is at 7.24. RSI (Relative Strength Index) is 54.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.10, which suggests the price will decrease in the coming days. Percent R is at 42.31%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
