PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) Short Interest Up 36.3% in January

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) saw a large increase in short interest in January. As of January 15th, there was short interest totaling 1,663,625 shares, an increase of 36.3% from the December 31st total of 1,220,517 shares. Based on an average daily volume of 1,156,802 shares, the short-interest ratio is presently 1.4 days. Currently, 1.7% of the company’s stock are sold short. Currently, 1.7% of the company’s stock are sold short. Based on an average daily volume of 1,156,802 shares, the short-interest ratio is presently 1.4 days.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised shares of PennantPark Floating Rate Capital from a “hold” rating to a “moderate buy” rating and set a $10.50 target price for the company in a research report on Monday, October 6th. Finally, Wall Street Zen lowered shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.50.

PennantPark Floating Rate Capital Stock Down 0.5%

PennantPark Floating Rate Capital stock traded down $0.05 during midday trading on Friday, hitting $9.43. 987,496 shares of the stock were exchanged, compared to its average volume of 1,001,495. PennantPark Floating Rate Capital has a 52-week low of $8.40 and a 52-week high of $11.50. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.85. The stock’s 50-day simple moving average is $9.35. The company has a market capitalization of $935.64 million, a PE ratio of 12.92 and a beta of 0.75.

PennantPark Floating Rate Capital (NYSE:PFLT) last posted its quarterly earnings data on Monday, November 24th. The company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. PennantPark Floating Rate Capital had a net margin of 25.39% and a return on equity of 9.91%. The firm had revenue of $68.98 million during the quarter, compared to analyst estimates of $65.91 million.

PennantPark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.