The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. PennantPark Investment Corporation shares valued at $24,972 were purchased by Briones Jose A on Nov 27 ’24. At $6.79 per share, Briones Jose A acquired 3,675 shares. The insider’s holdings grew to 265,332 shares worth approximately $1.87 million following the completion of this transaction.
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Also, Allorto Richard T JR purchased 5,000 shares, netting a total of over 33,978 in proceeds. Following the buying of shares at $6.80 each, the insider now holds 15,000 shares.
Before that, Briones Jose A had added 6,122 shares to its account. In a trade valued at $41,970, the Director bought PennantPark Investment Corporation shares for $6.86 each. Upon closing the transaction, the insider’s holdings increased to 6,122 shares, worth approximately $1.84 million.
As published in a research note from Ladenburg Thalmann on November 27, 2024, PennantPark Investment Corporation [PNNT] has been rated down from a Buy to a Neutral. Analysts at Compass Point upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in early September. As of July 15, 2024, Compass Point has decreased its “Neutral” rating to a “Sell” for PNNT. Earlier on May 10, 2024, Raymond James downgraded its rating. Their new recommendation was “a Mkt perform” for PNNT stock which previously was a “an Outperform”.
Analyzing PNNT Stock Performance
During the last five days, there has been a surge of approximately 4.30%. Over the course of the year, PennantPark Investment Corporation shares have jumped approximately 1.74%. Shares of the company reached a 52-week high of $8.04 on 07/11/24 and a 52-week low of $6.43 on 08/05/24. A 50-day SMA is recorded $6.92, while a 200-day SMA reached $7.09. Nevertheless, trading volume fell to 0.54 million shares from 0.33 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 7.06. The next price resistance is at 7.08. RSI (Relative Strength Index) is 58.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.08, which suggests the price will decrease in the coming days. Percent R is at 3.23%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
