Hercules Capital (NYSE:HTGC) Sees Large Volume Increase – Here’s Why

Hercules Capital, Inc. (NYSE:HTGC) saw unusually-strong trading volume on Thursday . Approximately 1,090,740 shares traded hands during trading, an increase of 11% from the previous session’s volume of 978,650 shares.The stock last traded at $18.83 and had previously closed at $19.09.

Analyst Ratings Changes

A number of analysts recently weighed in on HTGC shares. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price target on shares of Hercules Capital in a research report on Friday, February 14th. Keefe, Bruyette & Woods raised shares of Hercules Capital from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $19.50 to $21.50 in a research report on Thursday, December 12th. Finally, Compass Point upped their price target on shares of Hercules Capital from $18.25 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Hercules Capital currently has an average rating of “Moderate Buy” and a consensus target price of $21.40.

Hercules Capital Trading Down 2.8 %

The company has a market capitalization of $3.21 billion, a PE ratio of 11.53 and a beta of 1.35. The business’s 50-day simple moving average is $20.67 and its two-hundred day simple moving average is $19.80. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.89.

Hercules Capital (NYSE:HTGC) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. The business had revenue of $121.78 million for the quarter, compared to analyst estimates of $124.09 million. Hercules Capital had a net margin of 53.28% and a return on equity of 17.19%. On average, analysts predict that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.

Hercules Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 26th were given a $0.47 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $1.88 annualized dividend and a dividend yield of 10.13%. Hercules Capital’s dividend payout ratio (DPR) is presently 99.38%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HTGC. Ameriflex Group Inc. acquired a new position in Hercules Capital in the 4th quarter valued at $29,000. Avior Wealth Management LLC grew its stake in Hercules Capital by 177.2% in the 4th quarter. Avior Wealth Management LLC now owns 1,802 shares of the financial services provider’s stock valued at $36,000 after buying an additional 1,152 shares during the last quarter. Estabrook Capital Management grew its stake in Hercules Capital by 239.0% in the 4th quarter. Estabrook Capital Management now owns 1,878 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,324 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Hercules Capital by 59,650.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,390 shares of the financial services provider’s stock valued at $47,000 after buying an additional 2,386 shares during the last quarter. Finally, Archer Investment Corp grew its position in Hercules Capital by 345.4% in the 4th quarter. Archer Investment Corp now owns 2,325 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,803 shares during the last quarter. Institutional investors own 19.69% of the company’s stock.

About Hercules Capital

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.