Short Interest in PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) Decreases By 32.7%

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 955,300 shares, a decrease of 32.7% from the September 15th total of 1,420,000 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 1.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Keefe, Bruyette & Woods raised PennantPark Floating Rate Capital from a “hold” rating to a “moderate buy” rating and set a $10.50 price objective for the company in a research note on Monday, October 6th. 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, Weiss Ratings reissued a “hold (c)” rating on shares of PennantPark Floating Rate Capital in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

PennantPark Floating Rate Capital Stock Up 1.5%

Shares of PFLT opened at $9.08 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.22 and a quick ratio of 0.22. The company has a market cap of $900.92 million, a P/E ratio of 10.81 and a beta of 0.97. PennantPark Floating Rate Capital has a 12 month low of $8.40 and a 12 month high of $11.63.

PennantPark Floating Rate Capital (NYSE:PFLT) last issued its quarterly earnings results on Wednesday, November 17th. The company reported $0.28 EPS for the quarter. The company had revenue of $10.69 million during the quarter. PennantPark Floating Rate Capital had a return on equity of 10.04% and a net margin of 28.31%.

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.