Hercules Capital (NYSE:HTGC) Stock Price Breaks Below 200 Day Moving Average – Time to Sell?

Shares of Hercules Capital, Inc. (NYSE:HTGC) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $16.10 and traded as low as $15.87. Hercules Capital shares last traded at $16.0940, with a volume of 1,658,309 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HTGC shares. Weiss Ratings raised Hercules Capital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, October 28th. UBS Group raised shares of Hercules Capital from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.50 to $18.50 in a report on Tuesday, September 1st. Finally, LADENBURG THALM/SH SH reduced their price objective on shares of Hercules Capital from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.89.

Hercules Capital Stock Down 1.7%

The company has a debt-to-equity ratio of 1.10, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $3.05 billion, a P/E ratio of 8.65 and a beta of 0.82. The stock’s fifty day moving average is $16.85 and its two-hundred day moving average is $16.10.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Hercules Capital had a return on equity of 15.72% and a net margin of 62.84%. The company had revenue of $135.69 million for the quarter, compared to analysts’ expectations of $144.11 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. As a group, research analysts predict that Hercules Capital, Inc. will post 1.94 earnings per share for the current fiscal year.

Hercules Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Tuesday, November 10th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, November 10th. This is a negative change from Hercules Capital’s previous quarterly dividend of $0.40. Hercules Capital’s payout ratio is presently 86.02%.

Institutional Investors Weigh In On Hercules Capital

Institutional investors and hedge funds have recently modified their holdings of the stock. KFG Wealth Management LLC boosted its position in shares of Hercules Capital by 4.5% in the 3rd quarter. KFG Wealth Management LLC now owns 14,981 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 646 shares during the period. Adirondack Trust Co. lifted its stake in Hercules Capital by 2.8% during the third quarter. Adirondack Trust Co. now owns 24,674 shares of the financial services provider’s stock valued at $415,000 after buying an additional 674 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Hercules Capital by 2.8% during the third quarter. Oppenheimer & Co. Inc. now owns 29,898 shares of the financial services provider’s stock valued at $503,000 after buying an additional 823 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in shares of Hercules Capital by 6.7% in the third quarter. Wedbush Securities Inc. now owns 13,580 shares of the financial services provider’s stock worth $228,000 after buying an additional 848 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Hercules Capital by 17.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 7,090 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,035 shares during the period. 19.69% of the stock is owned by institutional investors and hedge funds.

Hercules Capital Company Profile

Hercules Capital, Inc. is a specialty finance company and business development company that provides financing to venture capital-backed businesses. Its lending focuses primarily on companies in the technology, life sciences and sustainable and renewable technology sectors. The company offers venture debt and growth capital through products such as senior secured loans, equipment financing and working capital facilities. Its financing is designed to support businesses at different stages, including product development, expansion and other growth initiatives.