Hercules Capital (NYSE:HTGC) Hits New 52-Week Low - Here's What Happened

Hercules Capital, Inc. (NYSE:HTGC - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $15.65 and last traded at $17.49, with a volume of 2416634 shares. The stock had previously closed at $16.24.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HTGC. Compass Point increased 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. Keefe, Bruyette & Woods lowered their price target on shares of Hercules Capital from $21.50 to $20.50 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Piper Sandler lowered their price target on Hercules Capital from $23.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 price objective on shares of Hercules Capital in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Hercules Capital currently has an average rating of "Moderate Buy" and a consensus target price of $20.70.

Hercules Capital Stock Up 2.3 %

The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.89. The firm's fifty day moving average is $19.35 and its 200 day moving average is $19.64. The stock has a market cap of $3.03 billion, a P/E ratio of 10.86 and a beta of 1.13.

Hercules Capital (NYSE:HTGC - Get Free Report) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. Hercules Capital had a net margin of 53.28% and a return on equity of 17.19%. The firm had revenue of $121.78 million during the quarter, compared to analysts' expectations of $124.09 million. As a group, equities research analysts forecast that Hercules Capital, Inc. will post 1.96 EPS for the current year.

Hercules Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 26th were issued a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $1.88 annualized dividend and a yield of 10.75%. Hercules Capital's dividend payout ratio (DPR) is 99.38%.

Institutional Trading of Hercules Capital

Several institutional investors have recently modified their holdings of the company. Two Sigma Advisers LP raised its position in Hercules Capital by 205.7% in the fourth quarter. Two Sigma Advisers LP now owns 1,406,900 shares of the financial services provider's stock worth $28,265,000 after purchasing an additional 946,700 shares in the last quarter. Marshall Wace LLP acquired a new stake in Hercules Capital in the 4th quarter valued at $14,871,000. Two Sigma Investments LP grew its position in Hercules Capital by 106.7% in the fourth quarter. Two Sigma Investments LP now owns 945,849 shares of the financial services provider's stock valued at $19,002,000 after acquiring an additional 488,172 shares during the period. Millennium Management LLC raised its stake in Hercules Capital by 1,834.7% during the fourth quarter. Millennium Management LLC now owns 429,125 shares of the financial services provider's stock worth $8,621,000 after acquiring an additional 406,944 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Hercules Capital during the fourth quarter valued at $7,755,000. Institutional investors and hedge funds 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.