TriplePoint Venture Growth BDC (NYSE:TPVG) Upgraded at StockNews.com

TriplePoint Venture Growth BDC (NYSE:TPVG) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

TPVG has been the subject of several other reports. Wells Fargo & Company decreased their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Piper Sandler decreased their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, November 7th. LADENBURG THALM/SH SH downgraded shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their target price for the company from $8.50 to $8.00 in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and lowered their price target for the company from $8.00 to $7.50 in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.65.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG stock traded up $0.01 during mid-day trading on Friday, hitting $7.90. 263,460 shares of the stock traded hands, compared to its average volume of 360,538. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $11.58. The company’s 50-day simple moving average is $7.03 and its 200-day simple moving average is $8.01. The firm has a market cap of $316.40 million, a price-to-earnings ratio of 37.62 and a beta of 1.80.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The company had revenue of $26.52 million during the quarter, compared to analyst estimates of $25.65 million. During the same quarter last year, the firm posted $0.54 EPS. Analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

Institutional Trading of TriplePoint Venture Growth BDC

Large investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in TriplePoint Venture Growth BDC during the 2nd quarter worth $35,000. EverSource Wealth Advisors LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth about $62,000. Diversify Wealth Management LLC bought a new stake in TriplePoint Venture Growth BDC during the 3rd quarter valued at approximately $82,000. Dynamic Technology Lab Private Ltd acquired a new stake in TriplePoint Venture Growth BDC in the 3rd quarter valued at approximately $83,000. Finally, BNP Paribas Financial Markets increased its position in TriplePoint Venture Growth BDC by 214.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock worth $93,000 after buying an additional 9,000 shares during the period. Institutional investors own 12.77% of the company’s stock.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.