Great Elm Cap C (NASDAQ:GECC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $12.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 7.62% from the company’s previous close.

According to Zacks, “Great Elm Capital Corp. is a diversified investment company. Its business line consists of investment management, financial products and merchant banking. Great Elm Capital Corp. is based in Baltimore, Maryland. “

Several other research firms have also issued reports on GECC. Oppenheimer Holdings, Inc. initiated coverage on shares of Great Elm Cap C in a research report on Wednesday, June 28th. They set an “outperform” rating and a $14.00 price target on the stock. CIBC initiated coverage on shares of Great Elm Cap C in a research report on Wednesday, June 28th. They set an “outperform” rating and a $14.00 price target on the stock.

Shares of Great Elm Cap C (NASDAQ:GECC) traded up 0.45% on Wednesday, reaching $11.15. The company’s stock had a trading volume of 15,198 shares. Great Elm Cap C has a 1-year low of $10.25 and a 1-year high of $12.37. The stock has a 50-day moving average of $10.75 and a 200 day moving average of $10.88.

Great Elm Cap C (NASDAQ:GECC) last posted its quarterly earnings results on Monday, August 14th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.09. The firm had revenue of $6.24 million for the quarter, compared to the consensus estimate of $5.20 million.

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Several institutional investors have recently modified their holdings of GECC. Royal Bank of Canada bought a new position in shares of Great Elm Cap C during the second quarter valued at $512,000. GRT Capital Partners L.L.C. bought a new position in shares of Great Elm Cap C during the second quarter valued at $237,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Great Elm Cap C by 1.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 50,669 shares of the financial services provider’s stock valued at $538,000 after buying an additional 871 shares during the last quarter. Finally, Moloney Securities Asset Management LLC bought a new position in shares of Great Elm Cap C during the second quarter valued at $112,000. 8.90% of the stock is currently owned by institutional investors.

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