Prospect Capital Corporation (PSEC) has risen sharply, recording gains of 4.54% in the past 4 weeks. However, the stock has corrected -1.01% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Prospect Capital Corporation (NASDAQ:PSEC): The stock opened at $8.33 on Friday but the bulls could not build on the opening and the stock topped out at $8.35 for the day. The stock traded down to $8.29 during the day, due to lack of any buying support eventually closed down at $8.29 with a loss of -0.48% for the day. The stock had closed at $8.33 on the previous day. The total traded volume was 1,166,901 shares.
The stock has recorded a 20-day Moving Average of 1.17% and the 50-Day Moving Average is 5.98%. Prospect Capital Corporation is up 15.96% in the last 3-month period. Year-to-Date the stock performance stands at 28.59%.
Prospect Capital Corporation (PSEC) : The consensus price target for Prospect Capital Corporation (PSEC) is $8.3 for the short term with a standard deviation of $1.2. The most optimist securities analyst among the 5 who monitor the stock believes that the stock can reach $10, however, the pessimist price target for the company is $7.
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.