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

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

PennantPark Floating Rate Capital Price Performance

NYSE:PFLT traded down $0.16 during mid-day trading on Friday, reaching $9.55. The stock had a trading volume of 1,149,270 shares, compared to its average volume of 1,003,470. The stock has a market cap of $947.55 million, a P/E ratio of 13.08 and a beta of 0.75. PennantPark Floating Rate Capital has a 1-year low of $8.40 and a 1-year high of $11.50. The business has a 50 day simple moving average of $9.27. 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 (NYSE:PFLT) last announced its quarterly earnings data on Monday, November 24th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting 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 analysts’ expectations of $65.91 million.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PFLT. Keefe, Bruyette & Woods upgraded PennantPark Floating Rate Capital from a “hold” rating to a “moderate buy” rating and set a $10.50 target price for the company in a research note on Monday, October 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a report on Monday, December 29th. Finally, Wall Street Zen downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average 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.