Runway Growth Finance (NASDAQ:RWAY) Given New $7.00 Price Target at Wells Fargo & Company

Runway Growth Finance (NASDAQ:RWAY) had its price objective lowered by research analysts at Wells Fargo & Company from $10.00 to $7.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 2.56% from the company’s previous close.

Several other research firms have also recently commented on RWAY. UBS Group cut their price target on Runway Growth Finance from $12.50 to $12.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. JPMorgan Chase & Co. lowered their price objective on Runway Growth Finance from $9.50 to $7.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Runway Growth Finance in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Runway Growth Finance has an average rating of “Hold” and a consensus price target of $10.00.

Runway Growth Finance Price Performance

NASDAQ RWAY traded up $0.20 on Monday, hitting $6.83. The company had a trading volume of 192,412 shares, compared to its average volume of 398,147. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $246.59 million, a PE ratio of 7.42 and a beta of 0.70. Runway Growth Finance has a 12-month low of $6.61 and a 12-month high of $11.40. The company’s fifty day moving average price is $8.66 and its 200-day moving average price is $9.35.

Runway Growth Finance (NASDAQ:RWAY) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $30.04 million during the quarter, compared to analyst estimates of $31.60 million. Runway Growth Finance had a return on equity of 11.52% and a net margin of 24.79%. As a group, analysts predict that Runway Growth Finance will post 1.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Key Capital Management INC purchased a new stake in shares of Runway Growth Finance in the fourth quarter valued at $29,000. Kestra Advisory Services LLC acquired a new stake in shares of Runway Growth Finance in the fourth quarter worth approximately $42,000. Raymond James Financial Inc. acquired a new stake in shares of Runway Growth Finance in the second quarter worth approximately $51,000. Osaic Holdings Inc. grew its holdings in Runway Growth Finance by 92.6% in the second quarter. Osaic Holdings Inc. now owns 5,515 shares of the company’s stock valued at $59,000 after purchasing an additional 2,651 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Runway Growth Finance by 74,437.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,963 shares of the company’s stock valued at $64,000 after purchasing an additional 5,955 shares during the period. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Company Profile

Runway Growth Finance, Inc is a publicly traded business development company that provides customized debt and equity financing solutions to high‐growth, venture‐backed companies. The firm specializes in structuring senior secured loans, unitranche facilities, second‐lien financings, convertible notes and equity co‐investments designed to extend the cash runway for late‐stage companies. Runway’s flexible capital offerings are aimed at supporting technology, life sciences and other innovation‐driven sectors as they pursue growth initiatives and prepare for liquidity events.

Originally launched in 2017 under the name Saratoga Investment Corp., the company rebranded as Runway Growth Finance in 2020 following the acquisition of an established middle‐market credit manager.