Prospect Capital Corporation [PSEC] moved down -3.91: Why It’s Important
Prospect Capital Corporation [NASDAQ: PSEC] It traded at the lowest level on 22/09/22, recording a loss of -3.91 after which it closed the day’s session at $6.89. Company report on September 19, 2022 Prospect Capital Corporation announces the launch of a cash tender offer for any and all of its outstanding 5.875% bonds due in 2023.
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Prospect Capital Corporation announced today that it has commenced a cash bid (“Tender Offer”) for the purchase of any and all outstanding securities listed below. The Bidding Bid shall expire at 5:00 PM New York City time on September 23, 2022 or any other date and time on which the Company extends the Bid Bidding (such as the date and time, as may or may not be extended., “Expiry Time”). The bid offer is submitted in accordance with today’s dated purchase offer and the relevant Guaranteed Delivery Notice, which sets out the terms and conditions of the bid offer.
The results of the trading session contributed to the trading of more than 3244845 shares. Over the past week, Prospect Capital Corporation’s price volatility was 2.61% while volatility over the last month was 2.50%.
PSEC stock has a market capitalization of $2.72 billion, with 394.80 million shares outstanding and 286.43 million shares in current float. Compared to an average trading volume of 1.33 million shares, PSEC’s trading volume was 3,244,845 on the last trading day, which is why market watchers consider the stock to be active.
What Top Market Experts Say About Prospect Capital Corporation [PSEC]?
Based on careful, fact-backed analysis by Wall Street experts, the current consensus on a target price for PSEC shares is $6.00 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus for PSEC stock is a set recommendation at 3.50. This rating represents a strong buy recommendation, on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 represents hold, and 2 indicates buy.
Raymond James made an estimate for Prospect Capital Corporation shares, holding their opinion of the stock as Mkt Perform, with their previous recommendation of November 09, 2021. While these analysts held the previous recommendation, Wells Fargo raised the target price to Underweight. The new price target note was released on June 25, 2020, which is the official target price for Prospect Capital Corporation stock. On January 22, 2019, analysts cut their target price for PSEC shares from 7 to 6.
Prospect Capital Corporation’s Average True Range (ATR) is set at 0.18, with PSEC’s price-to-sales ratio for the past twelve-month period at 3.83. The price-to-book ratio for the last quarter was 0.66.
How has PSEC stock been performing lately?
Prospect Capital Corporation [PSEC] It fell into the red at the end of last week, fell in a negative direction and fell by -6.89. With this latest performance, PSEC shares are down -13.44% over the past four-week period, as well as -15.87% over the past six months — not to mention a -12.78% drop in the last year of trading.
Overbought and oversold stocks can be easily tracked by the Relative Strength Index (RSI), where an RSI result of over 70 is overbought, and any price below 30 indicates oversold conditions. The RSI of 50 represents neutral momentum in the market. The current RSI for the PSEC stock for the last two weeks was set at 28.27, with the RSI for the last one trading at 21.22, and the three-week RSI set at 33.49 for Prospect Capital Corporation [PSEC]. The current moving average for the last 50 trading days of this stock is 7.62, while it was recorded at 7.21 for the last trading week, and 7.91 for the last 200 days.
Prospect Capital Corporation Earnings Analysis [PSEC]
The company’s progress can be seen through the prism of the EPS growth rate, while Wall Street analysts focus on forecasting the PSEC’s 5-year EPS growth rate. When it comes to the stated value, analysts expect Prospect Capital Corporation’s 5-year EPS growth rate to rise to 5.00%.
Inside Trade Stands for Prospect Capital Corporation [PSEC]
There are currently approximately $201 million, or 8.26% of PSEC shares, in the hands of institutional investors. The three largest PSEC owners are: VAN ECK ASSOCIATES CORP with 3,431,123 ownership, which represents approximately -12.782% of the company’s market capitalization and approximately 27.43% of the total institutional ownership; LEGAL & GENERAL GROUP PLC, which owns 2,349,916 shares with an approximate value of $16.19 million in PSEC stock; and BLACKROCK INC. , currently holds $14.27 million in PSEC stock with ownership of approximately 12.806% of the company’s market capitalization.
121 business owners have increased their positions in Prospect Capital Corporation [NASDAQ:PSEC] About 2,316,862 shares. In addition, 71 investors decreased their positions by 1,809,733 shares, while 57 investors held positions by 25,064,728 shares. The said changes put institutional holdings at 2,919,1323 shares, according to the latest report from the Securities and Exchange Commission. PSEC’s stock included 37 new institutional investments with a total of 842,871 shares, while 24 institutional investors sold 559,377-share positions during the same period.