Prospect Capital (NASDAQ:PSEC) Raised to “Buy” at Wall Street Zen

Prospect Capital (NASDAQ:PSEC) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company lowered their price objective on Prospect Capital from $2.50 to $2.00 and set an “underweight” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prospect Capital in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell” and an average price target of $2.00.

Prospect Capital Price Performance

NASDAQ PSEC opened at $2.18 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. Prospect Capital has a fifty-two week low of $2.14 and a fifty-two week high of $3.71. The business has a 50 day moving average price of $2.62 and a two-hundred day moving average price of $2.68. The stock has a market cap of $1.09 billion, a PE ratio of -5.89 and a beta of 0.82.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $150.07 million for the quarter, compared to analyst estimates of $163.23 million. Prospect Capital had a negative net margin of 10.42% and a positive return on equity of 12.03%.

Institutional Trading of Prospect Capital

Institutional investors have recently added to or reduced their stakes in the business. Catalyst Financial Partners LLC acquired a new position in Prospect Capital in the fourth quarter valued at approximately $26,000. Bfsg LLC acquired a new stake in shares of Prospect Capital during the 4th quarter worth approximately $27,000. Navalign LLC bought a new stake in shares of Prospect Capital in the 3rd quarter worth approximately $28,000. Ground Swell Capital LLC bought a new stake in shares of Prospect Capital in the 4th quarter worth approximately $28,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Prospect Capital during the 4th quarter valued at approximately $28,000. Institutional investors own 9.06% of the company’s stock.

About Prospect Capital

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.