Zacks Investment Research downgraded PennantPark Investment Corp. (NASDAQ:PNNT) to Sell in a report released today.
- Updated: October 5, 2016
Zacks Investment Research has downgraded PennantPark Investment Corp. (NASDAQ:PNNT) to Sell in a report released on 10/5/2016.
Just yesterday PennantPark Investment Corp. (NASDAQ:PNNT) traded 0.39% higher at $7.72. PennantPark Investment Corp.’s 50-day moving average is $7.75 and its 200-day moving average is $6.95. The last stock price is up 11.19% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 109,994 shares of PNNT traded hands, down from an average trading volume of 344,749
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 brokerages have issued a ratings update on the company. The average stock price target is $7.00 with 3 brokerages rating the stock a strong buy, 3 brokerages rating the stock a buy, 4 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokerages 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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