PennantPark Investment Corp. (NASDAQ:PNNT) has been upgraded to Hold in a statement by Zacks Investment Research earlier today.
- Updated: October 15, 2016
Boasting a price of $7.62, PennantPark Investment Corp. (NASDAQ:PNNT) traded 0.80% higher on the day. The last stock close price is up 7.82% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same period. PNNT has recorded a 50-day average of $7.73 and a two hundred day average of $7.02. Trade Volume was down over the average, with 156,292 shares of PNNT changing hands under the typical 329,651
Zacks Investment Research has upgraded PennantPark Investment Corp. (NASDAQ:PNNT) to Hold in a statement released on Wednesday October 12, 2016.
Recent Performance Chart
PennantPark Investment Corp. has 52 week low of $4.65 and a 52 week high of $8.30 and has a market capitalization of $0.
In addition to Zacks Investment Research reporting its stock price target, a total of 8 brokers have issued a research note on the company. The average stock price target is $7.00 with 3 brokers rating the stock a strong buy, 3 brokers rating the stock a buy, 4 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
Brief Synopsis On PennantPark Investment Corp. (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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