Short Interest in PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) Increases By 27.5%

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 1,767,323 shares, an increase of 27.5% from the November 30th total of 1,385,829 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 842,447 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily trading volume, of 842,447 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.8% of the shares of the company are short sold.

PennantPark Floating Rate Capital Trading Up 0.5%

Shares of PennantPark Floating Rate Capital stock traded up $0.05 on Thursday, reaching $9.28. The stock had a trading volume of 1,136,630 shares, compared to its average volume of 863,527. The stock’s 50 day moving average price is $9.19. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.85. PennantPark Floating Rate Capital has a 1 year low of $8.40 and a 1 year high of $11.50. The stock has a market capitalization of $920.74 million, a P/E ratio of 12.71 and a beta of 0.75.

PennantPark Floating Rate Capital (NYSE:PFLT) last issued 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 company had revenue of $68.98 million during the quarter, compared to analysts’ expectations of $65.91 million.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PFLT. Wall Street Zen lowered PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research report on Monday. Finally, Keefe, Bruyette & Woods upgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “moderate buy” rating and set a $10.50 price target on the stock in a research note on Monday, October 6th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.50.

About PennantPark Floating Rate Capital

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.