Hercules Technology Growth Capital (HTGC) Posts Quarterly Earnings, Meets Expectations
Hercules Technology Growth Capital (NYSE:HTGC) announced its earnings results on Thursday. The company reported $0.30 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.30, Analyst Ratings News reports. The company had revenue of $34.00 million for the quarter, compared to the consensus estimate of $34.92 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis.
In other Hercules Technology Growth Capital news, CIO Scott Bluestein sold 6,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $16.55, for a total value of $99,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on HTGC shares. Analysts at Wells Fargo & Co. upgraded shares of Hercules Technology Growth Capital from a “market perform” rating to an “outperform” rating in a research note on Tuesday, June 24th. Analysts at MLV & Co
initiated coverage on shares of Hercules Technology Growth Capital in a research note on Thursday, May 22nd. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Hercules Technology Growth Capital presently has an average rating of “Buy” and an average target price of $16.75.
Hercules Technology Growth Capital (NYSE:HTGC) traded down 0.78% during mid-day trading on Thursday, hitting $16.55. 515,214 shares of the company’s stock traded hands. Hercules Technology Growth Capital has a 1-year low of $12.95 and a 1-year high of $17.25. The stock has a 50-day moving average of $16. and a 200-day moving average of $15.34. The company has a market cap of $1.036 billion and a price-to-earnings ratio of 10.02. Hercules Technology Growth Capital also was the recipient of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 3,718,382 shares, a decline of 50.6% from the June 30th total of 7,521,168 shares. Based on an average trading volume of 474,742 shares, the short-interest ratio is currently 7.8 days. Approximately 6.3% of the company’s shares are short sold.
The company also recently declared a quarterly dividend, which is scheduled for Monday, August 25th. Stockholders of record on Monday, August 18th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 7.49%.
Hercules Technology Growth Capital, Inc (NYSE:HTGC) is an internally managed, non-diversified closed-end investment company.
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