PennantPark Floating Rate Capital (NYSE:PFLT) Upgraded to "Hold" at Wall Street Zen

Key Points

• Pennantpark Floating Rate Capital (NYSE:PFLT) has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen.
• The stock opened at $9.78 and has a market capitalization of $970.35 million with a P/E ratio of 11.64.
• Pennantpark primarily invests in floating rate loans to middle-market companies, focusing mainly on the U.S. market.

Wall Street Zen upgraded shares of PennantPark Floating Rate Capital (NYSE:PFLT - Free Report) from a sell rating to a hold rating in a research note published on Saturday.

PennantPark Floating Rate Capital Price Performance

Shares of PennantPark Floating Rate Capital stock traded down $0.04 during midday trading on Friday, reaching $9.78. The company had a trading volume of 1,643,010 shares, compared to its average volume of 872,707. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.22 and a current ratio of 0.22. The firm has a market capitalization of $970.37 million, a price-to-earnings ratio of 8.29 and a beta of 0.98.

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.