Hercules Technology Growth Capital Inc. (NYSE:HTGC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $15.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 9.01% from the company’s previous close.

According to Zacks, “Hercules Capital’s shares have marginally outpaced the Zacks Categorized Small Business Investment Companies & Commercial industry, year to date. The company's 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 based on the market optimism for public equities and an improving economic environment. Nevertheless, elevated expenses, threat of concentration risk and stricter regulations continue to be the near-term concerns.”

A number of other research analysts have also issued reports on HTGC. JMP Securities reiterated a “buy” rating on shares of Hercules Technology Growth Capital in a research report on Sunday, November 6th. FBR & Co increased their target price on Hercules Technology Growth Capital from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. Jefferies Group increased their target price on Hercules Technology Growth Capital from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, TheStreet upgraded Hercules Technology Growth Capital from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Hercules Technology Growth Capital currently has an average rating of “Buy” and a consensus price target of $14.00.

Analyst Recommendations for Hercules Technology Growth Capital (NYSE:HTGC)

Shares of Hercules Technology Growth Capital (NYSE:HTGC) traded up 0.182% during midday trading on Tuesday, reaching $13.785. 167,895 shares of the company traded hands. Hercules Technology Growth Capital has a 1-year low of $9.92 and a 1-year high of $14.00. The firm has a market capitalization of $1.06 billion, a PE ratio of 14.823 and a beta of 0.90. The stock has a 50 day moving average price of $13.53 and a 200 day moving average price of $13.10.

Hercules Technology Growth Capital (NYSE:HTGC) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $45.10 million for the quarter, compared to analysts’ expectations of $44.09 million. Hercules Technology Growth Capital had a net margin of 41.18% and a return on equity of 11.69%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. Analysts expect that Hercules Technology Growth Capital will post $1.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 21st. Stockholders of record on Monday, November 14th were issued a dividend of $0.31 per share. The ex-dividend date was Wednesday, November 9th. This represents a $1.24 annualized dividend and a dividend yield of 9.01%. Hercules Technology Growth Capital’s dividend payout ratio is presently 131.92%.

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Several hedge funds and other institutional investors have recently bought and sold shares of HTGC. Sei Investments Co. increased its stake in shares of Hercules Technology Growth Capital by 229.1% in the second quarter. Sei Investments Co. now owns 8,900 shares of the company’s stock worth $110,000 after buying an additional 6,196 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Hercules Technology Growth Capital by 591.7% in the third quarter. Tower Research Capital LLC TRC now owns 8,148 shares of the company’s stock worth $111,000 after buying an additional 6,970 shares during the last quarter. Capital Investment Advisors LLC increased its stake in shares of Hercules Technology Growth Capital by 8.1% in the second quarter. Capital Investment Advisors LLC now owns 10,657 shares of the company’s stock worth $132,000 after buying an additional 800 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Hercules Technology Growth Capital by 25.6% in the second quarter. Advisory Services Network LLC now owns 11,013 shares of the company’s stock worth $137,000 after buying an additional 2,245 shares during the last quarter. Finally, WFG Advisors LP increased its stake in shares of Hercules Technology Growth Capital by 21.7% in the second quarter. WFG Advisors LP now owns 11,200 shares of the company’s stock worth $139,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 41.24% of the company’s stock.

Hercules Technology Growth Capital Company Profile

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.

5 Day Chart for NYSE:HTGC

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