Hercules Capital (NYSE:HTGC) Shares Gap Down to $16.04

Hercules Capital, Inc. (NYSE:HTGC)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $16.04, but opened at $15.61. Hercules Capital shares last traded at $15.60, with a volume of 381,150 shares changing hands.

Analysts Set New Price Targets

HTGC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upgraded Hercules Capital from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $13.50 to $17.00 in a research report on Friday, August 4th. LADENBURG THALM/SH SH increased their price target on shares of Hercules Capital from $17.00 to $18.50 in a report on Friday, August 4th. Piper Sandler lowered their price target on shares of Hercules Capital from $18.50 to $18.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Oppenheimer increased their price target on shares of Hercules Capital from $13.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, August 4th. Finally, StockNews.com initiated coverage on shares of Hercules Capital in a report on Thursday, October 5th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Hercules Capital has an average rating of “Moderate Buy” and a consensus price target of $17.29.

Hercules Capital Trading Up 0.7 %

The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.99. The firm has a market cap of $2.40 billion, a P/E ratio of 7.94 and a beta of 1.40. The company’s 50 day simple moving average is $16.00 and its 200-day simple moving average is $15.53.

Hercules Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 15th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 12.09%. The ex-dividend date of this dividend is Tuesday, November 14th. Hercules Capital’s payout ratio is currently 80.00%.

Hedge Funds Weigh In On Hercules Capital

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its holdings in Hercules Capital by 50.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 57,981 shares of the financial services provider’s stock valued at $1,048,000 after buying an additional 19,566 shares during the period. HighTower Advisors LLC lifted its stake in shares of Hercules Capital by 10.5% during the first quarter. HighTower Advisors LLC now owns 52,376 shares of the financial services provider’s stock worth $947,000 after buying an additional 4,961 shares during the period. Cetera Advisor Networks LLC lifted its position in Hercules Capital by 11.8% during the first quarter. Cetera Advisor Networks LLC now owns 14,459 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 1,526 shares during the period. Mariner LLC acquired a new position in Hercules Capital during the first quarter valued at $289,000. Finally, Verition Fund Management LLC acquired a new position in shares of Hercules Capital in the first quarter worth about $184,000. 25.73% of the stock is owned by hedge funds and other institutional investors.

About Hercules Capital

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.