PennantPark Investment Corporation [PNNT] fell -35.53% so far this year. What now?

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PennantPark Investment Corporation [NASDAQ: PNNT] traded at a high on 11/19/20, posting a 17.93 gain after which it closed the day’ session at $4.21. The company report on November 20, 2020 that PennantPark Investment Corporation Announces Financial Results for the Fourth Quarter and Fiscal Year Ended September 30, 2020.

PennantPark Investment Corporation (NASDAQ: PNNT) announced today financial results for the fourth quarter and fiscal year ended September 30, 2020.

HIGHLIGHTSQuarter ended September 30, 2020 ($ in millions, except per share amounts).

The results of the trading session contributed to over 2150169 shares changing hands. Over the past one week, the price volatility of PennantPark Investment Corporation stands at 6.46% while the volatility over the past one month is 4.61%.

The market cap for PNNT stock reached $282.26 million, with 67.05 million shares outstanding. Compared to the average trading volume of 310.38K shares, PNNT reached a trading volume of 2150169 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about PennantPark Investment Corporation [PNNT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PNNT shares is $4.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PNNT stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Compass Point have made an estimate for PennantPark Investment Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 19, 2020. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $6.50 to $6. The new note on the price target was released on October 29, 2019, representing the official price target for PennantPark Investment Corporation stock. Previously, the target price had yet another drop from $8.50 to $7, while Compass Point kept a Neutral rating on PNNT stock.

The Average True Range (ATR) for PennantPark Investment Corporation is set at 0.17, with the Price to Sales ratio for PNNT stock in the period of the last 12 months amounting to 2.64. The Price to Book ratio for the last quarter was 0.54.

How has PNNT stock performed recently?

PennantPark Investment Corporation [PNNT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 34.50. With this latest performance, PNNT shares gained by 35.37% in over the last four-week period, additionally plugging by 31.56% over the last 6 months – not to mention a drop of -28.89% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PNNT stock in for the last two-week period is set at 81.02, with the RSI for the last a single of trading hit 86.31, and the three-weeks RSI is set at 74.38 for PennantPark Investment Corporation [PNNT]. The present Moving Average for the last 50 days of trading for this stock 3.26, while it was recorded at 3.60 for the last single week of trading, and 3.56 for the last 200 days.

PennantPark Investment Corporation [PNNT]: Deeper insight into the fundamentals

Earnings analysis for PennantPark Investment Corporation [PNNT]

With the latest financial reports released by the company, PennantPark Investment Corporation posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.17/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -11.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PNNT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PennantPark Investment Corporation go to 2.00%.

Insider trade positions for PennantPark Investment Corporation [PNNT]

There are presently around $85 million, or 32.54% of PNNT stock, in the hands of institutional investors. The top three institutional holders of PNNT stocks are: ARROWMARK COLORADO HOLDINGS LLC with ownership of 2,499,768, which is approximately -4.278% of the company’s market cap and around 2.62% of the total institutional ownership; LSV ASSET MANAGEMENT, holding 2,186,900 shares of the stock with an approximate value of $9.21 million in PNNT stocks shares; and INVESCO LTD., currently with $8.19 million in PNNT stock with ownership of nearly 0% of the company’s market capitalization.

33 institutional holders increased their position in PennantPark Investment Corporation [NASDAQ:PNNT] by around 1,004,162 shares. Additionally, 51 investors decreased positions by around 2,669,218 shares, while 17 investors held positions by with 16,526,468 shares. The mentioned changes placed institutional holdings at 20,199,848 shares, according to the latest SEC report filing. PNNT stock had 11 new institutional investments in for a total of 323,367 shares, while 15 institutional investors sold positions of 1,018,910 shares during the same period.

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