Hercules Capital's (HTGC) Buy (B) Rating Reiterated at Weiss Ratings

Key Points

• Hercules Capital's stock received a "buy (B)" rating reaffirmed by Weiss Ratings, indicating positive outlook from analysts.
• Multiple investment firms have increased their price targets for Hercules Capital, with a consensus target price of $20.58.
• The company reported a strong quarterly earnings performance, with $0.50 EPS and a revenue increase of 10% year-over-year, outperforming estimates.

Hercules Capital (NYSE:HTGC - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

HTGC has been the subject of several other research reports. JMP Securities raised their price objective on Hercules Capital from $22.00 to $24.00 and gave the company a "market outperform" rating in a report on Monday, August 4th. Citigroup restated an "outperform" rating on shares of Hercules Capital in a report on Monday, August 4th. Piper Sandler raised their price objective on Hercules Capital from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group raised their price objective on Hercules Capital from $18.50 to $19.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.58.

Hercules Capital Stock Performance

HTGC opened at $17.72 on Wednesday. The business's 50-day moving average price is $19.14 and its two-hundred day moving average price is $18.45. Hercules Capital has a 1 year low of $15.65 and a 1 year high of $22.04. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 11.74 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.68 and a quick ratio of 1.68.

Hercules Capital (NYSE:HTGC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. Hercules Capital had a return on equity of 16.54% and a net margin of 51.46%.The firm had revenue of $137.46 million for the quarter, compared to the consensus estimate of $129.47 million. During the same quarter last year, the business posted $0.51 EPS. The company's revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts expect that Hercules Capital will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Hercules Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Accel Wealth Management grew its holdings in Hercules Capital by 49.8% during the third quarter. Accel Wealth Management now owns 32,901 shares of the financial services provider's stock worth $622,000 after purchasing an additional 10,945 shares during the period. Heartwood Wealth Advisors LLC bought a new position in Hercules Capital during the third quarter worth about $95,000. Corient Private Wealth LLC grew its holdings in Hercules Capital by 112.9% during the second quarter. Corient Private Wealth LLC now owns 55,252 shares of the financial services provider's stock worth $1,010,000 after purchasing an additional 29,299 shares during the period. Centaurus Financial Inc. acquired a new stake in Hercules Capital during the second quarter worth approximately $679,000. Finally, Geneos Wealth Management Inc. lifted its position in Hercules Capital by 30.7% during the second quarter. Geneos Wealth Management Inc. now owns 6,475 shares of the financial services provider's stock worth $118,000 after acquiring an additional 1,520 shares during the last quarter. Institutional investors 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.

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