Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. PennantPark Floating Rate Capital Ltd shares valued at $19,892 were purchased by Briones Jose A on Jun 05 ’24. At $11.40 per share, Briones Jose A acquired 1,745 shares. The insider’s holdings grew to 319,598 shares worth approximately $3.53 million following the completion of this transaction.
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Also, Allorto Richard T JR purchased 10,000 shares, netting a total of over 113,000 in proceeds. Following the buying of shares at $11.30 each, the insider now holds 10,000 shares.
Before that, Briones Jose A had added 885 shares to its account. In a trade valued at $10,027, the Director bought PennantPark Floating Rate Capital Ltd shares for $11.33 each. Upon closing the transaction, the insider’s holdings increased to 885 shares, worth approximately $3.51 million.
As published in a research note from Maxim Group on August 12, 2024, PennantPark Floating Rate Capital Ltd [PFLT] has been rated up from a Hold to a Buy and the price target has been revised to $12. Analysts at UBS started covering the stock with ‘”a Neutral”‘ outlook in a report released in early June. As of July 09, 2021, Oppenheimer has initiated its “Perform” rating for PFLT. Earlier on March 25, 2020, Maxim Group downgraded its rating. Their new recommendation was “a Hold” for PFLT stock which previously was a “a Buy”.
Analyzing PFLT Stock Performance
During the last five days, there has been a drop of approximately -1.16%. Over the course of the year, PennantPark Floating Rate Capital Ltd shares have dropped approximately -8.68%. Shares of the company reached a 52-week high of $12.63 on 01/08/24 and a 52-week low of $10.28 on 08/05/24. A 50-day SMA is recorded $11.44, while a 200-day SMA reached $11.35. Nevertheless, trading volume fell to 0.53 million shares from 0.93 million shares the previous day.
Support And Resistance Levels for PennantPark Floating Rate Capital Ltd (PFLT)
According to the 24-hour chart, there is a support level at 10.99, which, if violated, would cause prices to drop to 10.94. In the upper region, resistance lies at 11.12. The next price resistance is at 11.20. RSI (Relative Strength Index) is 39.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.06, which suggests the price will decrease in the coming days. Percent R is at 71.11%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
