Hercules Capital (NYSE:HTGC) Sets New 52-Week Low at $10.94

Posted by Defense World Staff on Mar 15th, 2023

Hercules Capital, Inc. (NYSE:HTGC – Get Rating)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $10.94 and last traded at $11.60, with a volume of 2424868 shares trading hands. The stock had previously closed at $12.29.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JMP Securities restated a “market outperform” rating and issued a $18.00 price objective on shares of Hercules Capital in a research note on Monday. Royal Bank of Canada upped their price objective on Hercules Capital from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 17th. Keefe, Bruyette & Woods downgraded Hercules Capital from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $14.50 to $10.50 in a research note on Monday. Compass Point cut their price target on Hercules Capital to $15.00 in a research note on Tuesday, November 15th. Finally, Piper Sandler cut their price target on Hercules Capital from $15.00 to $14.50 in a research note on Friday, December 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.93.

Hercules Capital Price Performance

The business has a fifty day moving average of $14.46 and a 200-day moving average of $13.86. The firm has a market cap of $1.63 billion, a PE ratio of 16.13 and a beta of 1.43. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.12.

Hercules Capital (NYSE:HTGC – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The business had revenue of $100.19 million for the quarter, compared to analysts’ expectations of $91.34 million. Hercules Capital had a return on equity of 13.87% and a net margin of 31.73%. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, research analysts predict that Hercules Capital, Inc. will post 1.85 earnings per share for the current year.

Hercules Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 9th. Investors of record on Thursday, March 2nd were issued a dividend of $0.39 per share. This is a boost from Hercules Capital’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Wednesday, March 1st. This represents a $1.56 dividend on an annualized basis and a yield of 13.05%. Hercules Capital’s dividend payout ratio is 205.27%.

Institutional Trading of Hercules Capital

A number of institutional investors have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC lifted its holdings in Hercules Capital by 10.7% during the 4th quarter. Sound Income Strategies LLC now owns 2,441,754 shares of the financial services provider’s stock worth $32,280,000 after purchasing an additional 235,707 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Hercules Capital by 5.2% in the 4th quarter. Van ECK Associates Corp now owns 1,769,236 shares of the financial services provider’s stock valued at $23,390,000 after acquiring an additional 87,293 shares in the last quarter. Morgan Stanley raised its holdings in shares of Hercules Capital by 3.0% in the 4th quarter. Morgan Stanley now owns 1,136,914 shares of the financial services provider’s stock valued at $15,030,000 after acquiring an additional 32,831 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Hercules Capital by 18.5% in the 3rd quarter. BlackRock Inc. now owns 1,014,724 shares of the financial services provider’s stock valued at $11,750,000 after acquiring an additional 158,616 shares in the last quarter. Finally, Advisors Capital Management LLC raised its holdings in shares of Hercules Capital by 0.8% in the 4th quarter. Advisors Capital Management LLC now owns 973,086 shares of the financial services provider’s stock valued at $12,864,000 after acquiring an additional 7,300 shares in the last quarter. Hedge funds and other institutional investors own 23.77% of the company’s stock.

About Hercules Capital

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Hercules is the largest non-bank lender to venture capital-backed companies at all stages of development in a broadly diversified variety of technology, life sciences, and sustainable and renewable technology industries. With over a decade of experience in venture debt, Hercules is uniquely positioned to quickly create innovative financing solutions that perfectly fit within a company’s existing capital structure and map to its business objectives.