Short Interest in Chicago Atlantic BDC, Inc. (NASDAQ:LIEN) Grows By 96.3%

Chicago Atlantic BDC, Inc. (NASDAQ:LIEN) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 122,491 shares, an increase of 96.3% from the May 14th total of 62,404 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average trading volume of 93,221 shares, the days-to-cover ratio is currently 1.3 days.

Chicago Atlantic BDC Price Performance

Chicago Atlantic BDC stock traded down $0.03 during trading hours on Monday, reaching $9.97. The company had a trading volume of 75,356 shares, compared to its average volume of 67,945. The company has a 50-day moving average price of $9.58 and a 200 day moving average price of $10.07. The firm has a market cap of $227.52 million, a price-to-earnings ratio of 6.41 and a beta of 0.28. Chicago Atlantic BDC has a 12-month low of $8.92 and a 12-month high of $11.44.

Chicago Atlantic BDC (NASDAQ:LIEN) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.08. The business had revenue of $16.70 million for the quarter, compared to analysts’ expectations of $14.31 million. Chicago Atlantic BDC had a return on equity of 11.67% and a net margin of 57.88%. As a group, research analysts expect that Chicago Atlantic BDC will post 1.64 earnings per share for the current year.

Chicago Atlantic BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 13.6%. The ex-dividend date of this dividend is Friday, June 26th. Chicago Atlantic BDC’s payout ratio is 90.67%.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Chicago Atlantic BDC from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Chicago Atlantic BDC currently has a consensus rating of “Strong Buy”.

Hedge Funds Weigh In On Chicago Atlantic BDC

A number of large investors have recently bought and sold shares of LIEN. Sowell Financial Services LLC purchased a new position in shares of Chicago Atlantic BDC during the fourth quarter valued at approximately $4,940,000. Sage Mountain Advisors LLC increased its stake in shares of Chicago Atlantic BDC by 29.9% during the fourth quarter. Sage Mountain Advisors LLC now owns 268,088 shares of the company’s stock valued at $2,769,000 after buying an additional 61,721 shares during the period. LVM Capital Management Ltd. MI purchased a new position in shares of Chicago Atlantic BDC during the fourth quarter valued at approximately $1,666,000. Venturi Wealth Management LLC purchased a new position in shares of Chicago Atlantic BDC during the first quarter valued at approximately $375,000. Finally, Corient Private Wealth LLC increased its stake in shares of Chicago Atlantic BDC by 9.9% during the fourth quarter. Corient Private Wealth LLC now owns 382,865 shares of the company’s stock valued at $3,955,000 after buying an additional 34,423 shares during the period. 4.36% of the stock is owned by hedge funds and other institutional investors.

Chicago Atlantic BDC Company Profile

Chicago Atlantic BDC (NASDAQ:LIEN) is a closed-end management investment company organized as a business development company (BDC). It focuses on providing debt and equity financing solutions to U.S. middle-market companies that demonstrate strong growth potential. Through its public listing, the company offers investors exposure to a diversified portfolio of private credit and equity investments aimed at delivering attractive risk-adjusted returns.

The company’s investment strategy centers on structuring customized credit facilities, including senior secured loans, unitranche loans, mezzanine debt and equity co-investments.