According to the latest filings with the SEC, company insiders at PennantPark Investment Corporation (NASDAQ:PNNT) have increased their position in the stock by 38.53% over the past 6 months. Insiders now own 0.30% of total outstanding shares.
University of Michigan professor and noted insider trading researcher discovered that when insiders bought shares of their own companies, the stocks outperformed the total market by 8.9% over the next 12-month period. When they sold shares, the stock underperformed 5.4%.
PennantPark Investment Corporation (NASDAQ:PNNT) stands -5.07% away from its 50-day simple moving average and also -5.74% away from the 200-day average. Recently, the equity stands -15.32% away from the 52-week high and 12.90% from the 52-week low. The RSI (Relative Strength Index), an indicator that shows price strength by comparing upward and downward close-to-close movements is 33.30.
Wall Street analysts on the sell-side covering shares of PennantPark Investment Corporation (NASDAQ:PNNT) have a mean recommendation of 2.90 on the shares. This is based on a numerical chart where each stock recommendation (Buy,Sell,Hold) is translated into a numerical equivalent. A low number indicates a Buy and a higher number a Sell. In terms of where analysts see the stock headed, they have a consensus price target of $8.27 on the shares.