Portman Ridge Finance (NASDAQ:PTMN) Stock Crosses Above 50-Day Moving Average – Here’s Why

Shares of Portman Ridge Finance Corporation (NASDAQ:PTMN) passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $6.71 and traded as high as $6.96. Portman Ridge Finance shares last traded at $6.89, with a volume of 197,875 shares.

Portman Ridge Finance Price Performance

The company has a debt-to-equity ratio of 1.54, a quick ratio of 3.11 and a current ratio of 3.11. The business’s fifty day simple moving average is $6.71 and its 200 day simple moving average is $8.02. The stock has a market cap of $90.89 million, a price-to-earnings ratio of -7.41 and a beta of 0.60.

About Portman Ridge Finance

Portman Ridge Finance Corporation is a business development company (BDC) that provides financing to middle-market companies. The company seeks to invest in established businesses through a range of debt and equity instruments, with a primary focus on privately negotiated investments in U.S. companies. Its portfolio may include senior secured loans, unitranche and subordinated debt, and equity investments. Portman Ridge generally targets companies across a variety of industries and uses its investments to support acquisitions, recapitalizations, refinancings, growth initiatives, and other corporate purposes.