Hercules Capital, Inc. (NYSE:HTGC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.

According to Zacks, “Hercules Capital’s shares have significantly underperformed the industry, in the last six months. The company’s second-quarter 2017 earnings were in line with the Zacks Consensus Estimate as rise in total investment income was offset by higher costs. Increase in expenses, largely due to the company’s efforts to improve originations, is expected to hurt bottom-line growth in the near term. While it is likely to witness growing demand for customized financing, based on the market optimism for public equities and an improving economic environment, high concentration risk makes us apprehensive.”

Other analysts have also recently issued reports about the company. ValuEngine cut Hercules Capital from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub cut Hercules Capital from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Jefferies Group LLC restated a “buy” rating and issued a $16.00 target price on shares of Hercules Capital in a research report on Friday, May 12th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $17.00 target price on shares of Hercules Capital in a research report on Thursday, April 20th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $16.00 target price on shares of Hercules Capital in a research report on Sunday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $15.21.

Shares of Hercules Capital (HTGC) opened at 13.23 on Monday. The company has a 50 day moving average price of $13.30 and a 200-day moving average price of $14.11. Hercules Capital has a 1-year low of $12.29 and a 1-year high of $15.68. The stock has a market capitalization of $1.10 billion, a P/E ratio of 21.41 and a beta of 0.82.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. The business had revenue of $48.45 million for the quarter, compared to analysts’ expectations of $48.25 million. Hercules Capital had a return on equity of 12.93% and a net margin of 38.69%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. On average, equities research analysts forecast that Hercules Capital will post $1.18 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Hercules Capital, Inc. (HTGC) Stock Rating Lowered by Zacks Investment Research” was posted by Daily Political and is the property of of Daily Political. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.dailypolitical.com/2017/08/09/hercules-capital-inc-htgc-stock-rating-lowered-by-zacks-investment-research.html.

Institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC raised its position in shares of Hercules Capital by 0.6% in the first quarter. HighTower Advisors LLC now owns 12,093 shares of the financial services provider’s stock worth $183,000 after buying an additional 72 shares during the last quarter. BB&T Securities LLC raised its position in shares of Hercules Capital by 0.7% in the first quarter. BB&T Securities LLC now owns 14,561 shares of the financial services provider’s stock worth $220,000 after buying an additional 100 shares during the last quarter. Naples Global Advisors LLC raised its position in shares of Hercules Capital by 0.5% in the first quarter. Naples Global Advisors LLC now owns 69,056 shares of the financial services provider’s stock worth $1,045,000 after buying an additional 325 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Hercules Capital by 2.2% in the first quarter. Ameriprise Financial Inc. now owns 15,291 shares of the financial services provider’s stock worth $231,000 after buying an additional 331 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Hercules Capital by 1.9% in the second quarter. US Bancorp DE now owns 27,624 shares of the financial services provider’s stock worth $366,000 after buying an additional 512 shares during the last quarter. 44.25% of the stock is owned by hedge funds and other institutional investors.

Hercules Capital Company Profile

Hercules Capital, Inc is a specialty finance company. The Company is an internally managed, non-diversified, closed-end investment company. The Company focuses 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.

Get a free copy of the Zacks research report on Hercules Capital (HTGC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Hercules Capital (NYSE:HTGC)

Receive News & Ratings for Hercules Capital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hercules Capital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.