Harvest Capital Credit Corp (NASDAQ:HCAP) Sees Large Drop in Short Interest

Harvest Capital Credit Corp (NASDAQ:HCAP) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 4,600 shares, a drop of 19.3% from the August 31st total of 5,700 shares. Based on an average daily volume of 24,500 shares, the days-to-cover ratio is presently 0.2 days.

Shares of Harvest Capital Credit stock traded up $0.11 during trading on Thursday, reaching $3.56. 8,285 shares of the company were exchanged, compared to its average volume of 24,733. The company has a quick ratio of 19.44, a current ratio of 19.44 and a debt-to-equity ratio of 1.20. Harvest Capital Credit has a twelve month low of $2.66 and a twelve month high of $10.18. The business has a 50-day moving average price of $3.41 and a 200-day moving average price of $4.02. The firm has a market capitalization of $20.56 million, a price-to-earnings ratio of -3.56 and a beta of 0.57.

Harvest Capital Credit (NASDAQ:HCAP) last announced its quarterly earnings data on Friday, August 7th. The investment management company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.11). Harvest Capital Credit had a positive return on equity of 5.29% and a negative net margin of 46.26%. The company had revenue of $2.59 million for the quarter, compared to analyst estimates of $3.12 million. On average, equities research analysts forecast that Harvest Capital Credit will post 0.25 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on HCAP shares. Zacks Investment Research downgraded Harvest Capital Credit from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th. ValuEngine upgraded Harvest Capital Credit from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 23rd.

In related news, CEO Joseph A. Jolson bought 11,848 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was acquired at an average price of $4.00 per share, for a total transaction of $47,392.00. Following the transaction, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $120,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph A. Jolson acquired 8,909 shares of the business’s stock in a transaction on Monday, July 20th. The stock was acquired at an average price of $3.99 per share, with a total value of $35,546.91. Following the transaction, the chief executive officer now owns 30,000 shares in the company, valued at approximately $119,700. The disclosure for this purchase can be found here. Insiders have bought a total of 27,173 shares of company stock worth $108,512 in the last three months. 15.70% of the stock is owned by insiders.

An institutional investor recently bought a new position in Harvest Capital Credit stock. Advisor Group Holdings Inc. acquired a new position in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 39,664 shares of the investment management company’s stock, valued at approximately $197,000. Advisor Group Holdings Inc. owned 0.67% of Harvest Capital Credit as of its most recent SEC filing. Institutional investors and hedge funds own 7.82% of the company’s stock.

Harvest Capital Credit Company Profile

Harvest Capital Credit Corporation is a business development company providing structured credit to small businesses and specializing in leveraged buyouts, add-on acquisitions, recapitalizations, growth financings and debt refinancing investments. It prefers to invest in North America-based companies.

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