PennantPark Investment Corporation (PNNT) has risen sharply, recording gains of 0.13% in the past 4 weeks. However, the stock has corrected -2.77% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.2% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 1.93% and the 50-Day Moving Average is 2.09%.The 200 Day SMA reached 23.54% PennantPark Investment Corporation is up 17% in the last 3-month period. Year-to-Date the stock performance stands at 36.26%.
PennantPark Investment Corporation (PNNT) stock is expected to deviate a maximum of $0.66 from the average target price of $7.58 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $9 and the most muted being $7.
Company shares have received an average consensus rating of Hold for the current week PennantPark Investment Corporation (NASDAQ:PNNT): stock was range-bound between the intraday low of $7.555 and the intraday high of $7.7864 after having opened at $7.78 on Fridays session. The stock finally closed in the red at $7.78, a loss of -1.03%. The stock remained in the red for the whole trading day. The total traded volume was 1,522,499 shares. The stock failed to cross $7.7864 in Fridays trading. The stocks closing price on Thursday was $7.71.
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. The Company is a closed-end, externally managed, non-diversified investment company. It seeks to create a diversified portfolio that includes senior secured loans, mezzanine debt and equity investments. The Companys portfolio of industries include aerospace and defense, auto sector, beverage, food and tobacco, business services, cable television, communications, distribution, education, electronics, grocery, insurance, logistics, other media and retail stores. The Company has two wholly owned subsidiaries: SBIC LP and SBIC II. PennantPark Investment Advisers, LLC acts as the investment adviser of the Company.