WhiteHawk Income Corp. (NYSE:WHK) Stock Short Interest Climbs 294.5%

Key Points

• Short interest surged 294.5% to 836,431 shares as of September 30, representing 3.0% of WHK’s outstanding stock and 1.9 days to cover.
• Several institutional investors initiated positions in the second quarter, including Citadel Advisors, Alyeska Investment Group, BlueCrest Capital Management and Readystate Asset Management.
• WHK recently traded at $26.26 and pays a quarterly dividend of $0.61, equivalent to a 9.3% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $32.00.

WhiteHawk Income Corp. (NYSE:WHK - Get Free Report) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totaling 836,431 shares, a growth of 294.5% from the September 15th total of 212,038 shares. Currently, 3.0% of the company's stock are sold short. Based on an average daily volume of 441,122 shares, the days-to-cover ratio is presently 1.9 days.

Hedge Funds Weigh In On WhiteHawk Income

Several large investors have recently made changes to their positions in WHK. BlueCrest Capital Management Ltd bought a new position in WhiteHawk Income in the 2nd quarter worth approximately $3,756,000. Alyeska Investment Group L.P. bought a new stake in shares of WhiteHawk Income in the second quarter valued at approximately $6,955,000. Citadel Advisors LLC acquired a new stake in shares of WhiteHawk Income in the second quarter worth $10,215,000. Finally, Readystate Asset Management LP acquired a new stake in shares of WhiteHawk Income in the second quarter worth $696,000.

WhiteHawk Income Stock Performance

Shares of WHK traded down $0.12 during trading hours on Friday, hitting $26.26. 192,303 shares of the company were exchanged, compared to its average volume of 348,367. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.39 and a current ratio of 1.39. The company has a market capitalization of $723.46 million and a P/E ratio of -105.04. The company's 50 day simple moving average is $26.64. WhiteHawk Income has a 52 week low of $24.06 and a 52 week high of $29.07.

WhiteHawk Income Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 24th were paid a $0.61 dividend. The ex-dividend date was Monday, August 24th. This represents a $2.44 dividend on an annualized basis and a yield of 9.3%. WhiteHawk Income's dividend payout ratio (DPR) is presently -176.00%.

Analyst Ratings Changes

WHK has been the topic of a number of research analyst reports. Capital One Financial assumed coverage on shares of WhiteHawk Income in a research report on Monday, July 6th. They set an "overweight" rating and a $32.00 price objective on the stock. Stephens began coverage on shares of WhiteHawk Income in a research note on Monday, July 6th. They set an "overweight" rating and a $33.00 target price for the company. Wall Street Zen upgraded shares of WhiteHawk Income from a "sell" rating to a "hold" rating in a report on Saturday, October 3rd. Weiss Ratings started coverage on shares of WhiteHawk Income in a report on Monday, August 31st. They set a "sell (e)" rating on the stock. Finally, Raymond James Financial dropped their price target on shares of WhiteHawk Income from $37.00 to $35.00 and set a "strong-buy" rating on the stock in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, WhiteHawk Income presently has a consensus rating of "Moderate Buy" and an average target price of $32.00.

About WhiteHawk Income

WhiteHawk Income NYSE: WHK is a closed-end investment fund focused on generating current income through investments in private credit and other income-producing assets. The fund primarily seeks opportunities in senior secured loans and related debt investments issued by middle-market companies.

WhiteHawk Income is managed by WhiteHawk Capital Partners, an investment manager specializing in private credit. Its investment strategy emphasizes credit selection, downside protection and portfolio diversification across industries and borrowers.

The fund's activities are centered on the U.S.

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