Prospect Capital Corporation (PSEC) : 8 analysts are covering Prospect Capital Corporation (PSEC) and their average rating on the stock is 3, which is read as a Hold. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 2 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 4 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Prospect Capital Corporation (PSEC) has been rated by 5 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $10 and the lowest price target forecast is $7. The average forecast of all the analysts is $8.3 and the expected standard deviation is $1.2.
Prospect Capital Corporation (NASDAQ:PSEC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.80 and $7.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $7.85. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.83, notching a gain of 0.26% for the day. The total traded volume was 1,053,550 . The stock had closed at $7.81 on the previous day.
Also, Brokerage firm Deutsche Bank downgrades its rating on Prospect Capital Corporation (NASDAQ:PSEC). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on April 28, 2016. The company shares have rallied 6.69% from its 1 Year high price. On Sep 9, 2015, the shares registered one year high at $8.09 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $7.67 and the 200 Day Moving Average price is recorded at $7.10.
Prospect Capital Corporation is a financial services company. The Company is a non-diversified closed-end investment company. The Companys investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. The Company primarily lends to and invests in middle market privately-held companies. Its investments include lending in private equity sponsored transactions; lending directly to companies not owned by private equity firms; control investments in corporate operating companies; control investments in financial companies; investments in structured credit; real estate investments; investments in syndicated debt; aircraft leasing, and online lending. The Company is managed by its investment adviser, Prospect Capital Management L.P.