Harvest Capital Credit (NASDAQ:HCAP) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Harvest Capital Credit (NASDAQ:HCAP) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Harvest Capital Credit Corporation is a closed-end management investment company. The company invest in the form of subordinated debt, senior debt and minority equity. Harvest Capital Credit Corporation is headquartered in New York, United Sates. “

Other analysts have also recently issued research reports about the stock. ValuEngine cut shares of Harvest Capital Credit from a sell rating to a strong sell rating in a research note on Thursday, April 30th. TheStreet cut shares of Harvest Capital Credit from a c- rating to a d+ rating in a research note on Thursday, April 2nd.

NASDAQ HCAP opened at $4.00 on Wednesday. The firm has a 50-day moving average of $4.13 and a 200-day moving average of $5.54. The company has a debt-to-equity ratio of 1.17, a quick ratio of 14.00 and a current ratio of 14.00. The stock has a market cap of $23.84 million, a PE ratio of -4.82 and a beta of 0.76. Harvest Capital Credit has a 52-week low of $2.66 and a 52-week high of $10.25.

Harvest Capital Credit (NASDAQ:HCAP) last posted its earnings results on Wednesday, May 13th. The investment management company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $3.29 million during the quarter, compared to analysts’ expectations of $3.46 million. Harvest Capital Credit had a negative net margin of 38.27% and a positive return on equity of 6.00%. As a group, analysts predict that Harvest Capital Credit will post 0.61 EPS for the current fiscal year.

In other news, CEO Joseph A. Jolson bought 8,909 shares of the firm’s stock in a transaction on Monday, July 20th. The shares were purchased at an average cost of $3.99 per share, with a total value of $35,546.91. Following the acquisition, the chief executive officer now directly owns 30,000 shares in the company, valued at $119,700. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joseph A. Jolson bought 11,848 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was purchased at an average cost of $4.00 per share, for a total transaction of $47,392.00. Following the completion of the acquisition, the chief executive officer now owns 30,000 shares in the company, valued at $120,000. The disclosure for this purchase can be found here. Insiders acquired a total of 38,098 shares of company stock valued at $151,985 in the last quarter. Corporate insiders own 15.70% of the company’s stock.

A hedge fund recently bought a new stake in Harvest Capital Credit stock. Eastern Bank bought a new stake in Harvest Capital Credit Corp (NASDAQ:HCAP) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 14,570 shares of the investment management company’s stock, valued at approximately $72,000. Eastern Bank owned 0.24% of Harvest Capital Credit as of its most recent SEC filing. 7.50% of the stock is owned by institutional investors.

About Harvest Capital Credit

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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