Triplepoint Venture Growth BDC (NYSE:TPVG) Stock Price Passes Below 50 Day Moving Average of $14.43

Triplepoint Venture Growth BDC Corp (NYSE:TPVG)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $14.43 and traded as low as $14.90. Triplepoint Venture Growth BDC shares last traded at $14.91, with a volume of 4,258 shares traded.

Several analysts have weighed in on TPVG shares. Nomura started coverage on shares of Triplepoint Venture Growth BDC in a research report on Monday, July 8th. They set a “buy” rating and a $16.00 target price on the stock. Compass Point cut shares of Triplepoint Venture Growth BDC from a “buy” rating to a “neutral” rating and set a $14.50 price objective for the company. in a research note on Monday, May 6th. Finally, Zacks Investment Research cut shares of Triplepoint Venture Growth BDC from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $14.95.

The stock’s 50 day moving average is $14.45. The firm has a market cap of $370.46 million, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 3.05 and a beta of 1.12.

Triplepoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. Triplepoint Venture Growth BDC had a net margin of 57.09% and a return on equity of 12.50%. The business had revenue of $17.49 million during the quarter, compared to analysts’ expectations of $17.35 million. Equities research analysts forecast that Triplepoint Venture Growth BDC Corp will post 1.61 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can lifted its stake in shares of Triplepoint Venture Growth BDC by 13.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 6,856 shares of the investment management company’s stock valued at $72,000 after purchasing an additional 806 shares during the period. Wedbush Securities Inc. lifted its stake in shares of Triplepoint Venture Growth BDC by 18.9% in the 1st quarter. Wedbush Securities Inc. now owns 13,122 shares of the investment management company’s stock valued at $181,000 after purchasing an additional 2,087 shares during the period. Koshinski Asset Management Inc. acquired a new position in shares of Triplepoint Venture Growth BDC in the 1st quarter valued at $330,000. Deutsche Bank AG lifted its stake in shares of Triplepoint Venture Growth BDC by 31.8% in the 4th quarter. Deutsche Bank AG now owns 10,675 shares of the investment management company’s stock valued at $116,000 after purchasing an additional 2,575 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in shares of Triplepoint Venture Growth BDC in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 30.95% of the company’s stock.

About Triplepoint Venture Growth BDC (NYSE:TPVG)

TriplePoint Venture Growth BDC Corp is a business development company specializing investments in growth stage. It also provides debt financing to venture growth space companies which includes growth capital loans, equipment financings, revolving loans, and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector.

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