PennantPark Floating Rate Capital Ltd (NYSE: PFLT)’s stock price has soared by 0.82 in relation to previous closing price of 11.58. Nevertheless, the company has seen a gain of 2.41% in its stock price over the last five trading days. globenewswire.com reported 2024-07-03 that MIAMI, July 03, 2024 (GLOBE NEWSWIRE) — PennantPark Floating Rate Capital Ltd. (the “Company”) (NYSE: PFLT) announced that it will report results for the third fiscal quarter ended June 30, 2024 on Wednesday, August 7, 2024 after the close of the financial markets.
Is It Worth Investing in PennantPark Floating Rate Capital Ltd (NYSE: PFLT) Right Now?
PennantPark Floating Rate Capital Ltd (NYSE: PFLT) has a price-to-earnings ratio of 7.58x that is above its average ratio. Additionally, the 36-month beta value for PFLT is 1.67. There are mixed opinions on the stock, with 4 analysts rating it as a “buy,” 1 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
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The public float for PFLT is 65.89M and currently, short sellers hold a 0.79% ratio of that float. The average trading volume of PFLT on July 04, 2024 was 786.00K shares.
PFLT’s Market Performance
PFLT’s stock has seen a 2.41% increase for the week, with a 2.41% rise in the past month and a 4.24% gain in the past quarter. The volatility ratio for the week is 1.15%, and the volatility levels for the past 30 days are at 0.96% for PennantPark Floating Rate Capital Ltd The simple moving average for the past 20 days is 2.47% for PFLT’s stock, with a 3.97% simple moving average for the past 200 days.
Analysts’ Opinion of PFLT
Many brokerage firms have already submitted their reports for PFLT stocks, with UBS repeating the rating for PFLT by listing it as a “Neutral.” The predicted price for PFLT in the upcoming period, according to UBS is $11 based on the research report published on June 08, 2023 of the previous year 2023.
PFLT Trading at 2.51% from the 50-Day Moving Average
After a stumble in the market that brought PFLT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.56% of loss for the given period.
Volatility was left at 0.96%, however, over the last 30 days, the volatility rate increased by 1.15%, as shares surge +2.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +2.55% upper at present.
During the last 5 trading sessions, PFLT rose by +2.37%, which changed the moving average for the period of 200-days by +7.76% in comparison to the 20-day moving average, which settled at $11.41. In addition, PennantPark Floating Rate Capital Ltd saw -3.51% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PFLT starting from Briones Jose A, who purchase 1,745 shares at the price of $11.40 back on Jun 05 ’24. After this action, Briones Jose A now owns 319,598 shares of PennantPark Floating Rate Capital Ltd, valued at $19,892 using the latest closing price.
Allorto Richard T JR, the CFO and Treasurer of PennantPark Floating Rate Capital Ltd, purchase 10,000 shares at $11.30 during a trade that took place back on May 30 ’24, which means that Allorto Richard T JR is holding 10,000 shares at $113,000 based on the most recent closing price.
Stock Fundamentals for PFLT
Current profitability levels for the company are sitting at:
- 1.09 for the present operating margin
- 0.77 for the gross margin
The net margin for PennantPark Floating Rate Capital Ltd stands at 0.8. The total capital return value is set at 0.08.
Based on PennantPark Floating Rate Capital Ltd (PFLT), the company’s capital structure generated 0.59 points at debt to capital in total, while cash flow to debt ratio is standing at -0.04. The debt to equity ratio resting at 1.45. The interest coverage ratio of the stock is 2.84.
Currently, EBITDA for the company is 37.73 million with net debt to EBITDA at 7.18. When we switch over and look at the enterprise to sales, we see a ratio of 13.83. The receivables turnover for the company is 8.61for trailing twelve months and the total asset turnover is 0.07.
Conclusion
In conclusion, PennantPark Floating Rate Capital Ltd (PFLT) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
