A statement released earlier today by FBR & Co. about PennantPark Investment (NASDAQ:PNNT) bumps the target price to $8.00
- Updated: November 26, 2016
Boasting a price of $7.25, PennantPark Investment (NASDAQ:PNNT) traded 2.54% higher on the day. With the last stock price close down 0.06% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.03% over the date range. PennantPark Investment has recorded a 50-day average of $7.51 and a two hundred day average of $7.26. Volume of trade was down over the average, with 343,924 shares of PNNT changing hands under the typical 368,794
FBR & Co. bumped up the target of PennantPark Investment (NASDAQ:PNNT) to $8.00 stating a potential upside of 0.10%.
With a total market value of $0, PennantPark Investment has with a one year low of $4.65 and a one year high of $8.30 .
A total of 8 equity analysts have released a ratings update on PNNT. Three equity analysts rating the company a strong buy, three equity analysts rating the company a buy, four equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $7.00.
Brief Synopsis About PennantPark Investment (NASDAQ:PNNT)
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 Company's 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.
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