SWK (NASDAQ:SWKH) Stock Price Up 0.9% - Here's Why
SWK Holdings Corp. (NASDAQ:SWKH) stock price increased by 0.9% during mid-day trading, reaching $16.9650. The trading volume was significantly lower than average. Analysts have downgraded the stock to a 'hold' rating, with an average target price of $18.00. The company reported strong quarterly earnings, surpassing estimates with $0.59 EPS. Institutional investors have been actively trading SWK shares, with significant increases in holdings by several firms. SWK Holdings provides finance and asset management services, focusing on life science companies.
SWK Holdings Corp. (NASDAQ:SWKH - Get Free Report) shares traded up 0.9% during mid-day trading on Friday . The stock traded as high as $16.98 and last traded at $16.9650. 1,935 shares were traded during mid-day trading, a decline of 90% from the average session volume of 18,783 shares. The stock had previously closed at $16.81.
Analysts Set New Price Targets
SWKH has been the subject of several research reports. Maxim Group downgraded shares of SWK from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 13th. Wall Street Zen cut SWK from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of SWK in a research note on Monday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $18.00.
Check Out Our Latest Analysis on SWK
SWK Stock Up 0.9%
The stock has a market capitalization of $205.21 million, a P/E ratio of 11.95 and a beta of 0.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.17 and a quick ratio of 3.17. The firm has a 50-day simple moving average of $15.95 and a 200 day simple moving average of $15.09.
SWK (NASDAQ:SWKH - Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.25. SWK had a return on equity of 8.43% and a net margin of 39.00%.The business had revenue of $13.72 million during the quarter.
Institutional Trading of SWK
Several hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in SWK by 41.2% during the third quarter. Russell Investments Group Ltd. now owns 3,795 shares of the company's stock worth $55,000 after purchasing an additional 1,108 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of SWK by 40.5% during the third quarter. JPMorgan Chase & Co. now owns 5,298 shares of the company's stock worth $77,000 after acquiring an additional 1,527 shares in the last quarter. Bank of America Corp DE boosted its stake in SWK by 41.8% in the 2nd quarter. Bank of America Corp DE now owns 5,595 shares of the company's stock worth $82,000 after purchasing an additional 1,649 shares during the period. State of Wyoming boosted its position in shares of SWK by 42.0% in the first quarter. State of Wyoming now owns 10,472 shares of the company's stock valued at $182,000 after acquiring an additional 3,098 shares during the period. Finally, GSA Capital Partners LLP grew its stake in SWK by 6.5% during the third quarter. GSA Capital Partners LLP now owns 13,458 shares of the company's stock valued at $196,000 after acquiring an additional 821 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company's stock.
SWK Company Profile
(Get Free Report)SWK Holdings Corporation, offers specialty finance and asset management services in the United States. It operates in two segments, Finance Receivables and Pharmaceutical Development. The Finance Receivables segment provides customized financing solutions to a range of life science companies, including companies in the biotechnology, medical device, medical diagnostics and related tools, animal health, and pharmaceutical industries, as well as institutions and inventors.
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