Runway Growth Finance (NASDAQ:RWAY) Stock Rating Upgraded by Wells Fargo & Company

Runway Growth Finance (NASDAQ:RWAY) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday,Benzinga reports. The firm presently has a $11.00 price target on the stock. Wells Fargo & Company‘s price target points to a potential upside of 5.67% from the company’s current price.

Separately, Compass Point upgraded Runway Growth Finance from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $12.75 to $11.25 in a research note on Thursday, August 15th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.96.

Runway Growth Finance Price Performance

RWAY stock opened at $10.41 on Monday. The company has a market capitalization of $389.33 million, a PE ratio of 10.01 and a beta of 0.58. Runway Growth Finance has a 12-month low of $9.87 and a 12-month high of $13.74. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. The business’s fifty day moving average price is $10.34 and its 200 day moving average price is $10.98.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC acquired a new position in Runway Growth Finance in the third quarter valued at approximately $1,770,000. MGO One Seven LLC boosted its holdings in shares of Runway Growth Finance by 28.8% in the 2nd quarter. MGO One Seven LLC now owns 469,001 shares of the company’s stock valued at $5,515,000 after buying an additional 104,822 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Runway Growth Finance by 5.8% in the 3rd quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock valued at $13,747,000 after buying an additional 73,200 shares during the last quarter. HTLF Bank acquired a new stake in Runway Growth Finance during the 2nd quarter worth $439,000. Finally, Tidal Investments LLC purchased a new stake in Runway Growth Finance in the first quarter valued at $323,000. Hedge funds and other institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Company Profile

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.