OFS Capital Corporation (NASDAQ:OFS) Sees Large Decline in Short Interest

OFS Capital Corporation (NASDAQ:OFS) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 169,785 shares, a drop of 14.4% from the January 15th total of 198,298 shares. Based on an average daily trading volume, of 68,778 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily trading volume, of 68,778 shares, the days-to-cover ratio is currently 2.5 days.

OFS Capital Stock Performance

NASDAQ:OFS opened at $4.27 on Thursday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average price is $4.74 and its 200-day moving average price is $6.26. OFS Capital has a 52 week low of $3.99 and a 52 week high of $9.80.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on OFS shares. Weiss Ratings downgraded shares of OFS Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, January 7th. Capital One Financial set a $7.00 price objective on shares of OFS Capital in a report on Tuesday, November 4th. Wall Street Zen raised shares of OFS Capital from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Noble Financial began coverage on OFS Capital in a research report on Tuesday, November 4th. They issued a “neutral” rating on the stock. Finally, Loop Capital set a $7.00 price target on OFS Capital in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, OFS Capital presently has a consensus rating of “Reduce” and a consensus price target of $7.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OFS. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of OFS Capital by 5.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,166 shares of the investment management company’s stock valued at $533,000 after buying an additional 3,105 shares during the last quarter. Royal Bank of Canada lifted its stake in OFS Capital by 53.3% during the 4th quarter. Royal Bank of Canada now owns 11,500 shares of the investment management company’s stock valued at $55,000 after acquiring an additional 4,000 shares during the period. Bank of America Corp DE lifted its stake in OFS Capital by 245.3% during the 4th quarter. Bank of America Corp DE now owns 7,079 shares of the investment management company’s stock valued at $57,000 after acquiring an additional 5,029 shares during the period. Two Sigma Investments LP boosted its holdings in shares of OFS Capital by 5.8% during the 3rd quarter. Two Sigma Investments LP now owns 120,908 shares of the investment management company’s stock valued at $930,000 after acquiring an additional 6,636 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of OFS Capital in the fourth quarter worth approximately $66,000. Hedge funds and other institutional investors own 10.81% of the company’s stock.

OFS Capital Company Profile

OFS Capital Corporation (NASDAQ: OFS) is a business development company (BDC) that provides customized debt and equity financing solutions to U.S. middle-market companies. As an externally managed BDC, OFS Capital focuses on sponsoring capital structures that support growth initiatives, recapitalizations, acquisitions and other strategic transactions. The firm targets companies that demonstrate strong cash flow potential and scalable business models across a range of industries.

The company’s investment portfolio typically includes senior secured loans, unitranche facilities, mezzanine debt and equity co-investments.