In yesterday’s Wall Street session, Hercules Capital Inc. (NYSE:HTGC) shares traded at $13.50, up 1.35% from the previous session.
As of this writing, 9 analysts cover Hercules Capital Inc. (NYSE:HTGC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $12.50, we find $15.00. Given the previous closing price of $13.32, this indicates a potential upside of 12.61 percent. HTGC stock price is now -2.32% away from the 50-day moving average and -5.80% away from the 200-day moving average. The market capitalization of the company currently stands at $1.75B.
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There are 4 analysts who have given it a hold rating, whereas 5 have given it a buy rating. Brokers who have rated the stock have averaged $15.56 as their price target over the next twelve months.
On April 22, 2022, Keefe Bruyette Downgraded its previous ‘Outperform’ rating to ‘Mkt Perform’ on the stock keeping its target price maintained at $18, while ‘Piper Sandler’ rates the stock as ‘Neutral’.
In other news, Bluestein Scott, Chief Executive Officer sold 100,000 shares of the company’s stock on Nov 21. The stock was sold for $1,416,000 at an average price of $14.16. Upon completion of the transaction, the Chief Executive Officer now directly owns 946,621 shares in the company, valued at $12.78 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 19, Director Loo Wade bought 24 shares of the business’s stock. A total of $375 was incurred on buying the stock at an average price of $15.63. This leaves the insider owning 3,493 shares of the company worth $47155.5. Insiders disposed of 321,577 shares of company stock worth roughly $4.34 million over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HTGC stock. A new stake in Hercules Capital Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $21,498,000. GRANITE INVESTMENT PARTNERS, LLC invested $11,189,000 in shares of HTGC during the first quarter. In the first quarter, FARMER STEVEN PATRICK acquired a new stake in Hercules Capital Inc. valued at approximately $5,456,000. CITADEL ADVISORS LLC acquired a new stake in HTGC for approximately $4,284,000. ATRIA WEALTH SOLUTIONS, INC. purchased a new stake in HTGC valued at around $3,680,000 in the second quarter. In total, there are 282 active investors with 25.70% ownership of the company’s stock.
Wednesday morning saw Hercules Capital Inc. (NYSE: HTGC) opened at $13.39. During the past 12 months, Hercules Capital Inc. has had a low of $11.04 and a high of $18.53. The fifty day moving average price for HTGC is $13.84 and a two-hundred day moving average price translates $14.55 for the stock.
The latest earnings results from Hercules Capital Inc. (NYSE: HTGC) was released for Jun, 2022. According to the Mortgage Finance Company, earnings per share came in at $0.32, missing analysts’ expectations of $0.33 by -0.01. This compares to $0.20 EPS in the same period last year. The net profit margin was 14.10% and return on equity was 3.10% for HTGC. The company reported revenue of $84.23 million for the quarter, compared to $70.19 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 20.0 percent. For the current quarter, analysts expect HTGC to generate $80.47M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/17/2022. Investors who held shares on 11/10/2022 were paid a $0.15 dividend. On an annualized basis, this represents a $1.44 dividend and a 10.67% percent yield. There was an ex-dividend date of 11/09/2022 for this dividend. In terms of dividend payout ratio, HTGC is presently at 413.40%.
Hercules Capital Inc.(HTGC) Company Profile
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. The firm provides growth capital financing solutions for capital extension; management buy-out and corporate spin-out financing solutions; company, asset specific, or intellectual property acquisition financing; convertible, subordinated and/or mezzanine loans; domestic and international corporate expansion; vendor financing; revenue acceleration by sales and marketing development, and manufacturing expansion. It provides asset-based financing with a focus on cash flow; accounts receivable facilities; equipment loans or leases; equipment acquisition; facilities build-out and/or expansion; working capital revolving lines of credit; inventory. The firm also provides bridge financing to IPO or mergers and acquisitions or technology acquisition; dividend recapitalizations and other sources of investor liquidity; cash flow financing to protect against share price volatility; competitor acquisition; pre-IPO financing for extra cash on the balance sheet; public company financing to continue asset growth and production capacity; short-term bridge financing; and strategic and intellectual property acquisition financings. It also focuses on customized financing solutions, emerging growth, mid venture, and late venture financing. The firm invests primarily in structured debt with warrants and, to a lesser extent, in senior debt and equity investments. The firm generally seeks to invest in companies that have been operating for at least six to 12 months prior to the date of their investment. It prefers to invest in technology, energy technology, sustainable and renewable technology, and life sciences. Within technology the firm focuses on advanced specialty materials and chemicals; communication and networking, consumer and business products; consumer products and services, digital media and consumer internet; electronics and computer hardware; enterprise software and services; gaming; healthcare services; information services; business services; media, content and information; mobile; resource management; security software; semiconductors; semiconductors and hardware; and software sector. Within energy technology, it invests in agriculture; clean technology; energy and renewable technology, fuels and power technology; geothermal; smart grid and energy efficiency and monitoring technologies; solar; and wind. Within life sciences, the firm invests in biopharmaceuticals; biotechnology tools; diagnostics; drug discovery, development and delivery; medical devices and equipment; surgical devices; therapeutics; pharma services; and specialty pharmaceuticals. It also invests in educational services. The firm invests primarily in United States based companies and considers investment in the West Coast, Mid-Atlantic regions, Southeast and Midwest; particularly in the areas of software, biotech and information services. The firm prefers to invest between $10 million to $250 million in equity per transactions. It invests generally between $1 million to $40 million in companies focused primarily on business services, communications, electronics, hardware, and healthcare services. The firm invests primarily in private companies but also have investments in public companies. For equity investments, the firm seeks to represent a controlling interest in its portfolio companies which may exceed 25% of the voting securities of such companies. The firm seeks to invest a limited portion of its assets in equipment-based loans to early-stage prospective portfolio companies. These loans are generally for amounts up to $3 million but may be up to $15 million for certain energy technology venture investments. The firm allows certain debt investments have the right to convert a portion of the debt investment into equity. It also co-invests with other private equity firms. The firm seeks to exit its investments through initial public offering, a private sale of equity interest to a third party, a merger or an acquisition of the company or a purchase of the equity position by the company or one of its stockholders. The firm has structured debt with warrants which typically have maturities of between two and seven years with an average of three years; senior debt with an investment horizon of less than three years; equipment loans with an investment horizon ranging from three to four years; and equity related securities with an investment horizon ranging from three to seven years. The firm prefers to invest through its balance sheet capital. The firm formerly known as Hercules Technology Growth Capital, Inc. Hercules Capital, Inc. was founded in December 2003 and is based in Palo Alto, California with additional offices in Connecticut; Boston, Massachusetts; San Diego, California; Westport, Connecticut; Elmhurst, Illinois; Santa Monica, California; McLean, Virginia; New York, New York; Radnor, Pennsylvania; and Washington, District of Columbia and London, United Kingdom.
