TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Sees Significant Decrease in Short Interest

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,080,000 shares, a decline of 21.7% from the January 15th total of 1,380,000 shares. Based on an average daily volume of 396,400 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.7% of the company's shares are sold short.

Analyst Ratings Changes

TPVG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised TriplePoint Venture Growth BDC from an "underperform" rating to a "market perform" rating and decreased their price target for the stock from $8.00 to $7.50 in a research note on Thursday, November 7th. Wells Fargo & Company raised their price target on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an "equal weight" rating in a research note on Tuesday, November 19th. Piper Sandler decreased their price target on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Compass Point raised their price target on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a "neutral" rating in a research note on Thursday, December 5th. Finally, StockNews.com raised TriplePoint Venture Growth BDC from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $7.70.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP increased its holdings in shares of TriplePoint Venture Growth BDC by 21.9% in the 4th quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company's stock valued at $5,004,000 after acquiring an additional 122,039 shares during the period. Jane Street Group LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 712.4% in the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company's stock valued at $741,000 after acquiring an additional 92,072 shares during the period. International Assets Investment Management LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 435.6% in the 3rd quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company's stock valued at $760,000 after acquiring an additional 87,535 shares during the period. Millennium Management LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 180.1% in the 4th quarter. Millennium Management LLC now owns 120,602 shares of the investment management company's stock valued at $890,000 after acquiring an additional 77,551 shares during the period. Finally, Alpine Global Management LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at $477,000. 12.77% of the stock is owned by institutional investors.

TriplePoint Venture Growth BDC Stock Performance

NYSE TPVG traded up $0.26 on Tuesday, reaching $8.12. 273,499 shares of the stock traded hands, compared to its average volume of 245,722. The company has a fifty day moving average price of $7.64 and a 200-day moving average price of $7.47. The company has a market cap of $325.01 million, a price-to-earnings ratio of 38.64 and a beta of 1.88. TriplePoint Venture Growth BDC has a 12 month low of $6.44 and a 12 month high of $11.17.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.