The Hercules Technology Growth Capital Inc. (HTGC) gets Hold status at Zacks Investment Research

The Hercules Technology Growth Capital Inc. (HTGC) gets Hold status at Zacks Investment Research

Hercules Technology Growth Capital Inc. (NYSE:HTGC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Hercules Capital’s estimates have been stable lately ahead of its third-quarter 2016 earnings release. The company has positive record of earnings surprises in recent quarters. Its loan origination activity continues to be on track as it remains focused on making commitments to new and existing companies. Further, the company is expected to witness growing demand for customized financing in the coming quarters based on the market optimism for public equities and an improving economic environment. However, stricter regulations continue to impact the company's financials and the threat of concentration risk is also high. Moreover, there is a risk that management will stretch the investment size in order to grow more quickly and fully leverage its equity.”

A number of other equities analysts have also recently weighed in on the stock. Macquarie cut shares of Hercules Technology Growth Capital from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research report on Monday, July 25th. Jefferies Group upped their price objective on shares of Hercules Technology Growth Capital from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Compass Point upped their price objective on shares of Hercules Technology Growth Capital from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 6th. Finally, FBR & Co upped their price objective on shares of Hercules Technology Growth Capital from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Hercules Technology Growth Capital currently has an average rating of “Hold” and a consensus target price of $13.64.

Hercules Technology Growth Capital (NYSE:HTGC) traded up 0.59% during midday trading on Wednesday, hitting $13.61. 152,633 shares of the stock traded hands. Hercules Technology Growth Capital has a 52-week low of $9.92 and a 52-week high of $14.00. The stock has a 50-day moving average of $13.55 and a 200 day moving average of $12.70. The firm has a market cap of $1.02 billion, a PE ratio of 24.17 and a beta of 0.96.

Hercules Technology Growth Capital (NYSE:HTGC) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. The company earned $43.50 million during the quarter, compared to analysts’ expectations of $42.43 million. Hercules Technology Growth Capital had a net margin of 24.86% and a return on equity of 12.13%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. Equities analysts forecast that Hercules Technology Growth Capital will post $1.23 EPS for the current year.

Several large investors have recently made changes to their positions in the stock. UBS Group AG raised its stake in shares of Hercules Technology Growth Capital by 5.1% in the first quarter. UBS Group AG now owns 1,520,860 shares of the company’s stock worth $18,266,000 after buying an additional 73,624 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Hercules Technology Growth Capital by 12.1% in the first quarter. Wellington Management Group LLP now owns 1,405,494 shares of the company’s stock worth $16,880,000 after buying an additional 151,611 shares in the last quarter. Northpointe Capital LLC raised its stake in shares of Hercules Technology Growth Capital by 5.2% in the second quarter. Northpointe Capital LLC now owns 1,131,126 shares of the company’s stock worth $14,049,000 after buying an additional 56,162 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Hercules Technology Growth Capital by 4.6% in the second quarter. Principal Financial Group Inc. now owns 1,112,270 shares of the company’s stock worth $13,814,000 after buying an additional 49,220 shares in the last quarter. Finally, Confluence Investment Management LLC raised its stake in shares of Hercules Technology Growth Capital by 0.7% in the second quarter. Confluence Investment Management LLC now owns 693,914 shares of the company’s stock worth $8,618,000 after buying an additional 4,929 shares in the last quarter. 40.33% of the stock is owned by hedge funds and other institutional investors.

About Hercules Technology Growth Capital

Hercules Capital, Inc, formerly Hercules Technology Growth Capital, Inc, is a specialty finance company. The Company is focused on providing senior secured venture growth loans to venture capital-backed companies in a range of technology, life sciences and sustainable and renewable technology industries.

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