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

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) was the target of a significant growth in short interest during 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 currently 2.1 days. Approximately 1.8% of the shares of the stock are short sold. Approximately 1.8% of the shares of the stock are short sold. Based on an average trading volume of 842,447 shares, the short-interest ratio is currently 2.1 days.

Wall Street Analysts Forecast Growth

PFLT has been the subject of a number of research reports. Keefe, Bruyette & Woods raised shares of 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 lowered shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a report on Monday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.50.

PennantPark Floating Rate Capital Stock Up 1.5%

Shares of PFLT opened at $9.25 on Wednesday. The stock has a market cap of $917.79 million, a PE ratio of 12.67 and a beta of 0.75. PennantPark Floating Rate Capital has a twelve month low of $8.40 and a twelve month high of $11.50. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.85. The firm’s fifty day moving average price is $9.18.

PennantPark Floating Rate Capital (NYSE:PFLT) last released its quarterly earnings data on Monday, November 24th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. The firm had revenue of $68.98 million for the quarter, compared to analysts’ expectations of $65.91 million. PennantPark Floating Rate Capital had a net margin of 25.39% and a return on equity of 9.91%.

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.