Pearl Diver Credit Company Inc. (NYSE:PDCC) Sees Large Growth in Short Interest

Key Points

• Pearl Diver Credit Company Inc. experienced a dramatic increase of 2,200.0% in short interest in September, rising to a total of 2,300 shares.
• The company reported a quarterly loss, with earnings per share of $0.46, falling short of the consensus estimate of $0.56.
• Pearl Diver Credit also announced a monthly dividend of $0.22 per share, yielding an annualized rate of 15.9% for investors.

Pearl Diver Credit Company Inc. (NYSE:PDCC - Get Free Report) saw a significant increase in short interest in September. As of September 30th, there was short interest totaling 2,300 shares, an increase of 2,200.0% from the September 15th total of 100 shares. Based on an average daily volume of 2,700 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 2,700 shares, the days-to-cover ratio is presently 0.9 days.

Pearl Diver Credit Trading Up 0.5%

Shares of Pearl Diver Credit stock traded up $0.08 during trading on Thursday, hitting $16.58. The stock had a trading volume of 804 shares, compared to its average volume of 3,455. The business has a fifty day moving average of $16.80 and a two-hundred day moving average of $17.44. Pearl Diver Credit has a fifty-two week low of $15.44 and a fifty-two week high of $21.30.

Pearl Diver Credit (NYSE:PDCC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 26th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.10). The firm had revenue of $5.51 million during the quarter, compared to analyst estimates of $5.94 million.

Pearl Diver Credit Announces Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a $0.22 dividend. The ex-dividend date was Tuesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 15.9%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PDCC. Industrial Alliance Securities set a $19.50 price target on Pearl Diver Credit in a research note on Tuesday, July 1st. Alliance Global Partners raised Pearl Diver Credit to a "strong-buy" rating in a research note on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has an average rating of "Strong Buy" and a consensus price target of $19.50.

Pearl Diver Credit Company Profile

Pearl Diver Credit Company Inc is a newly organized, externally managed, non-diversified, closed-end management investment company. Its primary investment objective is to maximize its portfolio's total return, with a secondary objective of generating high current income. Pearl Diver Credit Company Inc is based in NEW YORK.

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