Extremely significant positive changes in PennantPark Investment Corp (NYSE: PNNT) investment behavior have recently occurred: positive upside/downside volume developed, the stock’s recent price rise disrupted its longer term downtrend, and the stock rose on very heavy volume.
Recent slight positive changes in fundamentals have benefitted PennantPark Investment Corp (NYSE: PNNT): significant quarterly earnings acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
PNNT’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
PennantPark Investment has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. PennantPark Investment has a neutral Appreciation Score of 59 and a neutral Power Rating of 59, with the High Neutral Value Trend Rating the result.
Recent Price Action
PennantPark Investment Corp (NYSE: PNNT) stock closed at $7.69 on 6/5/24 after a large increase of 2.4%. Moreover, exceptionally high trading volume at 213% of normal accompanied the advance. The stock has risen 4.2% during the last week and has performed in line with the market over the last nine months.
Be the first to comment