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

Runway Growth Finance (NASDAQ:RWAY) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat reports. The firm currently has a $11.00 target price on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 6.08% from the company’s previous close.

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

Runway Growth Finance Price Performance

Shares of NASDAQ RWAY opened at $10.37 on Monday. Runway Growth Finance has a twelve month low of $9.87 and a twelve 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 firm has a 50-day moving average of $10.35 and a two-hundred day moving average of $10.96. The company has a market capitalization of $387.84 million, a price-to-earnings ratio of 9.97 and a beta of 0.60.

Institutional Trading of Runway Growth Finance

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

About Runway Growth Finance

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.