PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) Sees Significant Growth in Short Interest

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

PennantPark Floating Rate Capital Stock Up 0.5%

Shares of PFLT stock opened at $9.28 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.85. PennantPark Floating Rate Capital has a 12-month low of $8.40 and a 12-month high of $11.50. The company has a fifty day moving average price of $9.20. The firm has a market cap of $920.76 million, a price-to-earnings ratio of 12.71 and a beta of 0.75.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on PFLT shares. Keefe, Bruyette & Woods upgraded 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 report on Monday, October 6th. Wall Street Zen downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a report on Monday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, PennantPark Floating Rate Capital presently has an average rating of “Moderate Buy” and an average price target 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.