Prospect Capital Corp. Sees Significant Growth in Short Interest (PSEC)
Prospect Capital Corp. (NASDAQ:PSEC) was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totalling 18,927,190 shares, an increase of 8.0% from the July 31st total of 17,529,426 shares, Analyst Ratings Network.com reports. Based on an average daily trading volume, of 3,071,071 shares, the short-interest ratio is presently 6.2 days. Approximately 5.8% of the company’s shares are sold short.
In other Prospect Capital Corp. news, Director Eugene S. Stark acquired 4,000 shares of Prospect Capital Corp. stock in a transaction that occurred on Thursday, August 28th. The stock was purchased at an average price of $10.32 per share, for a total transaction of $41,280.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
PSEC has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Prospect Capital Corp. from a “neutral” rating to an “underperform” rating in a research note on Thursday. They now have a $9.80 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Prospect Capital Corp. from $11.00 to $10.00 in a research note on Wednesday, August 27th. They now have a “market perform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Prospect Capital Corp. in a research note on Wednesday, August 27th. They now have a $11.50 price target on the stock, down previously from $12.25. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $11.16.
Shares of Prospect Capital Corp. (NASDAQ:PSEC) opened at 10.31 on Monday. Prospect Capital Corp. has a 1-year low of $9.17 and a 1-year high of $11.62. The stock’s 50-day moving average is $10.72 and its 200-day moving average is $10.63.
Prospect Capital Corp. (NASDAQ:PSEC) last issued its quarterly earnings data on Monday, August 25th. The company reported $0.25 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.07. The company had revenue of $182.84 million for the quarter, compared to the consensus estimate of $213.74 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts expect that Prospect Capital Corp. will post $1.20 EPS for the current fiscal year.
Prospect Capital Corporation (NASDAQ:PSEC), is a financial services company, which lends to and invests in middle market privately-held companies.
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