Hercules Capital, Inc. (NYSE:HTGC) Short Interest Up 46.7% in February

Hercules Capital, Inc. (NYSE:HTGC) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 11,895,383 shares, an increase of 46.7% from the February 12th total of 8,110,923 shares. Approximately 6.6% of the shares of the company are sold short. Based on an average trading volume of 4,979,228 shares, the short-interest ratio is presently 2.4 days. Based on an average trading volume of 4,979,228 shares, the short-interest ratio is presently 2.4 days. Approximately 6.6% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of brokerages have recently commented on HTGC. UBS Group reduced their target price on shares of Hercules Capital from $19.50 to $15.00 and set a “neutral” rating for the company in a report on Friday. Weiss Ratings lowered Hercules Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 24th. Piper Sandler cut Hercules Capital from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $20.50 to $17.50 in a research report on Friday, February 13th. Keefe, Bruyette & Woods decreased their price objective on Hercules Capital from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, February 13th. Finally, Wall Street Zen downgraded Hercules Capital from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Hercules Capital presently has an average rating of “Moderate Buy” and a consensus target price of $18.71.

Hercules Capital Stock Up 0.0%

Shares of Hercules Capital stock opened at $14.05 on Monday. Hercules Capital has a one year low of $13.77 and a one year high of $19.67. The company has a market cap of $2.58 billion, a P/E ratio of 7.67 and a beta of 0.88. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a fifty day moving average of $16.82 and a two-hundred day moving average of $17.83.

Hercules Capital (NYSE:HTGC) last issued its earnings results on Thursday, February 12th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. Hercules Capital had a net margin of 63.80% and a return on equity of 15.97%. The business had revenue of $133.25 million for the quarter, compared to the consensus estimate of $141.57 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, analysts forecast that Hercules Capital will post 1.96 earnings per share for the current year.

Hercules Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 25th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, February 25th. Hercules Capital’s payout ratio is currently 87.43%.

Insider Buying and Selling at Hercules Capital

In other Hercules Capital news, Director Thomas J. Fallon purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average price of $15.88 per share, for a total transaction of $317,600.00. Following the purchase, the director directly owned 120,369 shares in the company, valued at approximately $1,911,459.72. This trade represents a 19.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayle A. Crowell acquired 6,600 shares of the stock in a transaction on Monday, February 23rd. The shares were acquired at an average cost of $15.20 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the director directly owned 87,458 shares in the company, valued at $1,329,361.60. The trade was a 8.16% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 117,015 shares of company stock valued at $1,749,620. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hercules Capital

Large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Hercules Capital in the 4th quarter valued at approximately $27,000. Caitlin John LLC acquired a new position in Hercules Capital during the third quarter worth $29,000. Cornerstone Planning Group LLC acquired a new position in Hercules Capital during the fourth quarter worth $29,000. Financial Consulate Inc. purchased a new position in Hercules Capital in the third quarter worth $35,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Hercules Capital by 113.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,884 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 1,000 shares in the last quarter. 19.69% of the stock is owned by hedge funds and other institutional investors.

Hercules Capital Company Profile

Hercules Capital, Inc is a specialty finance company organized as a business development company (BDC) that provides tailored debt financing solutions to high‐growth companies. Through its external management structure, Hercules Capital extends senior secured loans, subordinated debt and growth capital designed to support research and development, expansion initiatives and working capital needs. The firm primarily partners with venture capital and private equity sponsors to finance innovative enterprises across various developmental stages.

The company’s investment portfolio is concentrated in technology, life sciences and sustainable and renewable technology sectors, reflecting its focus on industries with strong growth prospects and recurring capital requirements.