Wells Fargo & Company Has Lowered Expectations for Runway Growth Finance (NASDAQ:RWAY) Stock Price

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) had its price target dropped by stock analysts at Wells Fargo & Company from $12.00 to $10.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 8.58% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. UBS Group cut their price target on Runway Growth Finance from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. reduced their price target on Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, Compass Point upped their price objective on Runway Growth Finance from $11.50 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Runway Growth Finance has an average rating of "Moderate Buy" and a consensus target price of $11.08.

Runway Growth Finance Stock Performance

Runway Growth Finance stock traded up $0.13 during trading hours on Monday, hitting $9.21. 325,044 shares of the stock traded hands, compared to its average volume of 335,866. The firm's 50 day moving average price is $10.06 and its 200-day moving average price is $10.57. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $343.97 million, a price-to-earnings ratio of 8.86 and a beta of 0.61. Runway Growth Finance has a 1 year low of $8.35 and a 1 year high of $13.50.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $33.78 million during the quarter, compared to analyst estimates of $36.10 million. Runway Growth Finance had a return on equity of 12.91% and a net margin of 27.05%. As a group, equities analysts expect that Runway Growth Finance will post 1.67 EPS for the current fiscal year.

Institutional Trading of Runway Growth Finance

A number of institutional investors and hedge funds have recently modified their holdings of RWAY. Quarry LP acquired a new stake in Runway Growth Finance in the 4th quarter worth about $30,000. Canton Hathaway LLC purchased a new position in shares of Runway Growth Finance in the first quarter valued at approximately $63,000. PharVision Advisers LLC acquired a new stake in shares of Runway Growth Finance in the fourth quarter worth approximately $113,000. Perigon Wealth Management LLC acquired a new position in Runway Growth Finance in the 4th quarter valued at $114,000. Finally, Cetera Investment Advisers purchased a new position in Runway Growth Finance in the 4th quarter valued at $114,000. Hedge funds and other institutional investors own 64.61% of the company's stock.

About Runway Growth Finance

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.