Hercules Capital (NYSE:HTGC) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Hercules Capital shares crossed above their 200-day moving average, reaching $17.72 and last trading at $17.6550, compared with a 200-day average of $15.81.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $18.89; UBS upgraded the stock to “buy” and raised its target to $18.50.
• The company reported quarterly EPS of $0.50, ahead of estimates, and increased its quarterly dividend to $0.40, representing a 9.1% annualized yield.

Hercules Capital, Inc. (NYSE:HTGC - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.81 and traded as high as $17.72. Hercules Capital shares last traded at $17.6550, with a volume of 1,271,374 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Hercules Capital in a research report on Wednesday, June 17th. LADENBURG THALM/SH SH lowered their price target on shares of Hercules Capital from $21.00 to $20.00 and set a "buy" rating for the company in a report on Friday, July 31st. Finally, UBS Group raised Hercules Capital from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $15.50 to $18.50 in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.89.

Hercules Capital Stock Up 0.4%

The business's 50-day moving average is $16.81 and its two-hundred day moving average is $15.81. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 8.78 and a beta of 0.81. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.37 and a current ratio of 1.37.

Hercules Capital (NYSE:HTGC - Get Free Report) last issued its earnings results on Thursday, July 30th. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $134.41 million during the quarter, compared to the consensus estimate of $146.71 million. Hercules Capital had a net margin of 67.68% and a return on equity of 16.01%. The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 earnings per share. On average, equities analysts anticipate that Hercules Capital, Inc. will post 1.95 earnings per share for the current year.

Hercules Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 11th were given a $0.40 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.1%. This is an increase from Hercules Capital's previous quarterly dividend of $0.07. Hercules Capital's dividend payout ratio is currently 79.60%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prevail Innovative Wealth Advisors LLC raised its position in shares of Hercules Capital by 123.6% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 239,614 shares of the financial services provider's stock worth $4,510,000 after purchasing an additional 132,466 shares during the period. Legal & General Group Plc grew its position in shares of Hercules Capital by 17.9% in the 4th quarter. Legal & General Group Plc now owns 1,382,084 shares of the financial services provider's stock valued at $26,004,000 after purchasing an additional 209,854 shares during the period. Sound Income Strategies LLC increased its stake in Hercules Capital by 25.1% during the 1st quarter. Sound Income Strategies LLC now owns 3,382,058 shares of the financial services provider's stock worth $49,243,000 after purchasing an additional 678,783 shares in the last quarter. MQS Management LLC bought a new stake in Hercules Capital during the 4th quarter worth approximately $727,000. Finally, BlackRock Inc. acquired a new stake in Hercules Capital during the 2nd quarter worth approximately $14,573,000. 19.69% of the stock is currently owned by institutional investors.

About Hercules Capital

Hercules Capital, Inc NYSE: HTGC is a specialty finance company and business development company that provides financing to innovative, growth-oriented companies. Its primary focus is venture lending for businesses in the technology, life sciences, and sustainable and renewable technology sectors, including companies supported by venture capital and private equity investors.

The company offers secured term loans, equipment financing, working capital and bridge loans, and other customized debt solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.