Solar Senior Capital Ltd (NASDAQ:SUNS) Sees Large Drop in Short Interest

Solar Senior Capital Ltd (NASDAQ:SUNS) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totalling 26,600 shares, a decline of 43.2% from the June 30th total of 46,800 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 47,800 shares, the short-interest ratio is currently 0.6 days.

Shares of NASDAQ:SUNS opened at $12.55 on Friday. The business has a fifty day moving average price of $12.77 and a 200-day moving average price of $13.77. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $201.41 million, a PE ratio of 8.96 and a beta of 1.31. Solar Senior Capital has a 1-year low of $6.30 and a 1-year high of $18.29.

Solar Senior Capital (NASDAQ:SUNS) last announced its quarterly earnings data on Thursday, May 7th. The asset manager reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $8.78 million for the quarter, compared to the consensus estimate of $9.68 million. Solar Senior Capital had a negative net margin of 16.84% and a positive return on equity of 8.87%. On average, sell-side analysts anticipate that Solar Senior Capital will post 1.25 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP bought a new position in Solar Senior Capital in the 1st quarter valued at approximately $42,000. Tower Research Capital LLC TRC lifted its holdings in shares of Solar Senior Capital by 157.1% during the first quarter. Tower Research Capital LLC TRC now owns 8,794 shares of the asset manager’s stock valued at $86,000 after purchasing an additional 5,373 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Solar Senior Capital by 72.4% during the fourth quarter. Bank of America Corp DE now owns 5,113 shares of the asset manager’s stock valued at $90,000 after buying an additional 2,147 shares during the last quarter. Certified Advisory Corp increased its holdings in Solar Senior Capital by 74.4% in the 1st quarter. Certified Advisory Corp now owns 9,528 shares of the asset manager’s stock worth $93,000 after buying an additional 4,065 shares in the last quarter. Finally, Calton & Associates Inc. bought a new stake in Solar Senior Capital in the 1st quarter worth about $144,000. 20.38% of the stock is owned by institutional investors.

A number of research analysts recently issued reports on the stock. Oppenheimer reissued a “buy” rating on shares of Solar Senior Capital in a research report on Sunday, May 10th. Zacks Investment Research downgraded shares of Solar Senior Capital from a “hold” rating to a “sell” rating in a research note on Saturday, July 11th. Three equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $15.67.

Solar Senior Capital Company Profile

Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.

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