Short Interest in Apollo Investment Corp. Rises By 19.5% (AINV)
Shares of Apollo Investment Corp. (NASDAQ:AINV) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 13,804,071 shares, an increase of 19.5% from the June 13th total of 11,552,190 shares, Analyst Ratings Network reports. Approximately 5.8% of the shares of the stock are short sold. Based on an average daily volume of 5,943,173 shares, the days-to-cover ratio is presently 2.3 days.
Several analysts have recently commented on the stock. Analysts at SunTrust upgraded shares of Apollo Investment Corp. from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 9th. They now have a $10.00 price target on the stock, up previously from $8.56. Separately, analysts at Bank of America upgraded shares of Apollo Investment Corp. to a “neutral” rating in a research note on Tuesday, June 17th. They now have a $8.75 price target on the stock, down previously from $9.00. Finally, analysts at Keefe, Bruyette & Woods upgraded shares of Apollo Investment Corp. from a “market perform” rating to an “outperform” rating in a research note on Tuesday, June 17th. They now have a $9.50 price target on the stock, up previously from $9.00. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $9.14.
Shares of Apollo Investment Corp. (NASDAQ:AINV) opened at 8.79 on Wednesday. Apollo Investment Corp. has a one year low of $7.73 and a one year high of $9.21. The stock’s 50-day moving average is $8.49 and its 200-day moving average is $8.42.
Apollo Investment Corp. (NASDAQ:AINV) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.01. During the same quarter last year, the company posted $0.21 earnings per share. Analysts expect that Apollo Investment Corp. will post $0.88 EPS for the current fiscal year.
Apollo Investment Corporation (NASDAQ:AINV) is a closed-end, non-diversified management investment company that has elected to be treated as a business development company (BDC).