Chicago Atlantic BDC (NASDAQ:LIEN) Upgraded to Hold at Zacks Research

Key Points

• Chicago Atlantic BDC's stock rating was upgraded to a "hold" by Zacks Research, following similar moves by other firms like Oppenheimer and Redburn Atlantic.
• The company's market capitalization stands at $244.86 million, with a current stock price of $10.73 and a P/E ratio of 29.00.
• Chicago Atlantic BDC reported earnings of $0.34 EPS for the last quarter, which missed analysts' expectations, and had a net margin of 21.50%.

Chicago Atlantic BDC (NASDAQ:LIEN - Get Free Report) was upgraded by equities research analysts at Zacks Research to a "hold" rating in a research report issued on Wednesday, August 20th,Zacks.com reports.

A number of other equities analysts have also issued reports on the company. Oppenheimer initiated coverage on Chicago Atlantic BDC in a report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Redburn Atlantic upgraded Chicago Atlantic BDC to a "hold" rating in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold".

Chicago Atlantic BDC Stock Down 0.5%

NASDAQ LIEN traded down $0.05 during trading hours on Wednesday, hitting $10.97. 7,728 shares of the stock were exchanged, compared to its average volume of 25,249. Chicago Atlantic BDC has a 12-month low of $9.70 and a 12-month high of $13.38. The company has a market cap of $250.34 million, a price-to-earnings ratio of 29.65 and a beta of 0.27. The stock has a 50-day moving average of $10.42 and a 200 day moving average of $10.75.

Chicago Atlantic BDC (NASDAQ:LIEN - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). Chicago Atlantic BDC had a return on equity of 3.25% and a net margin of 21.50%.The firm had revenue of $13.08 million for the quarter, compared to analyst estimates of $13.10 million. On average, equities research analysts expect that Chicago Atlantic BDC will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LIEN. Black Maple Capital Management LP purchased a new stake in Chicago Atlantic BDC during the second quarter worth about $1,901,000. Brown Advisory Inc. bought a new stake in Chicago Atlantic BDC during the 2nd quarter valued at $1,045,000. Bernardo Wealth Planning LLC bought a new position in Chicago Atlantic BDC in the 2nd quarter worth $106,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Chicago Atlantic BDC in the 2nd quarter worth about $315,000. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of Chicago Atlantic BDC during the 2nd quarter valued at about $111,000. 4.36% of the stock is owned by institutional investors.

About Chicago Atlantic BDC

Chicago Atlantic BDC Inc is a specialty finance company which has elected to be regulated as a business development company. Its investment objective is to maximize risk-adjusted returns on equity for its stockholders by investing primarily in direct loans to privately held middle-market companies, with a primary focus on cannabis companies.