Portman Ridge Finance (NASDAQ:BCIC) Stock Price Breaks Above Fifty Day Moving Average – Here’s What Happened

Portman Ridge Finance Corp (NASDAQ:BCIC)’s stock price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $6.71 and traded as high as $6.96. Portman Ridge Finance shares last traded at $6.89, with a volume of 197,874 shares.

Analyst Ratings Changes

A number of analysts recently issued reports on BCIC shares. Weiss Ratings raised shares of Portman Ridge Finance from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, October 28th. Oppenheimer reduced their price target on shares of Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Monday, August 10th. Keefe, Bruyette & Woods decreased their price objective on shares of Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating for the company in a research note on Monday, August 10th. Finally, Zacks Research upgraded shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $9.25.

Portman Ridge Finance Stock Up 4.9%

The firm has a 50-day simple moving average of $6.71 and a 200 day simple moving average of $7.97. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $85.30 million, a PE ratio of -12.53 and a beta of 0.55.

About Portman Ridge Finance

Portman Ridge Finance Corporation is a business development company that provides financing to privately owned, primarily middle-market companies in the United States. The company invests across the capital structure, with a focus on senior secured loans, subordinated debt and, in some cases, equity securities. Through its investment portfolio, Portman Ridge seeks to support companies with acquisition financing, recapitalizations, refinancing and general corporate funding. Its investments may include first-lien and second-lien loans, unitranche facilities and other structured credit instruments.