Solar Senior Capital (SUNS) Downgraded to “Strong Sell” at BidaskClub

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Solar Senior Capital (NASDAQ:SUNS) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.

A number of other equities research analysts have also recently weighed in on SUNS. Zacks Investment Research raised shares of Solar Senior Capital from a “sell” rating to a “hold” rating in a research report on Thursday, May 17th. Maxim Group reissued a “buy” rating and issued a $18.50 price target on shares of Solar Senior Capital in a research report on Tuesday, August 7th.

Solar Senior Capital stock opened at $16.64 on Thursday. The firm has a market cap of $266.67 million, a PE ratio of 11.80 and a beta of 0.60. Solar Senior Capital has a 12-month low of $16.10 and a 12-month high of $18.40.

Solar Senior Capital (NASDAQ:SUNS) last released its quarterly earnings data on Monday, August 6th. The asset manager reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Solar Senior Capital had a net margin of 64.99% and a return on equity of 8.37%. The business had revenue of $9.47 million during the quarter, compared to analysts’ expectations of $9.60 million. research analysts anticipate that Solar Senior Capital will post 1.4 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in SUNS. JPMorgan Chase & Co. lifted its position in Solar Senior Capital by 19.2% in the first quarter. JPMorgan Chase & Co. now owns 651,211 shares of the asset manager’s stock valued at $10,941,000 after acquiring an additional 105,056 shares during the last quarter. Resource America Inc. lifted its position in Solar Senior Capital by 80.9% in the first quarter. Resource America Inc. now owns 83,094 shares of the asset manager’s stock valued at $1,396,000 after acquiring an additional 37,148 shares during the last quarter. Millennium Management LLC increased its stake in Solar Senior Capital by 120.6% in the fourth quarter. Millennium Management LLC now owns 38,580 shares of the asset manager’s stock valued at $685,000 after purchasing an additional 21,095 shares during the period. Wells Fargo & Company MN increased its stake in Solar Senior Capital by 16.2% in the first quarter. Wells Fargo & Company MN now owns 78,886 shares of the asset manager’s stock valued at $1,325,000 after purchasing an additional 10,997 shares during the period. Finally, BlackRock Inc. increased its stake in Solar Senior Capital by 11.9% in the fourth quarter. BlackRock Inc. now owns 103,232 shares of the asset manager’s stock valued at $1,833,000 after purchasing an additional 10,982 shares during the period. 23.15% of the stock is owned by hedge funds and other institutional investors.

About Solar Senior Capital

Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.

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