TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Short Interest Down 21.7% in January

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,080,000 shares, a decline of 21.7% from the January 15th total of 1,380,000 shares. Approximately 2.7% of the company’s shares are short sold. Based on an average trading volume of 396,400 shares, the short-interest ratio is currently 2.7 days.

TriplePoint Venture Growth BDC Trading Up 1.2 %

Shares of TPVG stock traded up $0.10 during midday trading on Friday, reaching $7.88. 185,659 shares of the stock were exchanged, compared to its average volume of 236,974. TriplePoint Venture Growth BDC has a 1 year low of $6.44 and a 1 year high of $11.17. The company’s 50 day moving average is $7.65 and its two-hundred day moving average is $7.49. The firm has a market cap of $315.39 million, a PE ratio of 37.50 and a beta of 1.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TPVG. International Assets Investment Management LLC grew its stake in shares of TriplePoint Venture Growth BDC by 435.6% in the 3rd quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock worth $760,000 after buying an additional 87,535 shares during the last quarter. Diversify Advisory Services LLC grew its stake in shares of TriplePoint Venture Growth BDC by 31.2% in the 3rd quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock worth $94,000 after buying an additional 3,378 shares during the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $82,000. Aigen Investment Management LP purchased a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $138,000. Finally, Kovack Advisors Inc. grew its stake in shares of TriplePoint Venture Growth BDC by 7.8% in the 3rd quarter. Kovack Advisors Inc. now owns 37,100 shares of the investment management company’s stock worth $262,000 after buying an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

Analyst Upgrades and Downgrades

TPVG has been the subject of a number of recent analyst reports. Compass Point upped their price target on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods raised 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 research report on Thursday, November 7th. Piper Sandler lowered their price target on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a research report on Tuesday, November 19th. Finally, StockNews.com raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, TriplePoint Venture Growth BDC has a consensus rating of “Hold” and an average price target of $7.70.

TriplePoint Venture Growth BDC Company Profile

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.