Short Interest in PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) Decreases By 30.9%

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 1,220,517 shares, a drop of 30.9% from the December 15th total of 1,767,323 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average trading volume of 993,549 shares, the days-to-cover ratio is presently 1.2 days. Based on an average trading volume of 993,549 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.2% of the company’s shares are short sold.

PennantPark Floating Rate Capital Price Performance

Shares of PFLT stock traded down $0.16 on Monday, hitting $9.55. The stock had a trading volume of 1,149,270 shares, compared to its average volume of 1,003,470. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.15 and a current ratio of 0.15. The company’s 50 day moving average is $9.27. PennantPark Floating Rate Capital has a 12-month low of $8.40 and a 12-month high of $11.50. The company has a market cap of $947.53 million, a PE ratio of 13.08 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.28. PennantPark Floating Rate Capital had a net margin of 25.39% and a return on equity of 9.91%. The business had revenue of $68.98 million during the quarter, compared to the consensus estimate of $65.91 million.

Analyst Upgrades and Downgrades

PFLT has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research report on Monday, December 29th. Wall Street Zen downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Finally, Keefe, Bruyette & Woods upgraded PennantPark Floating Rate Capital from a “hold” rating to a “moderate buy” rating and set a $10.50 target price on the stock in a report on Monday, October 6th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, PennantPark Floating Rate Capital has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

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.