Is It Time to Review Stock News: Harvest Capital Credit Corporation (NASDAQ: HCAP)

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On 18 May 2020, Harvest Capital Credit Corporation (NASDAQ: HCAP) stock observed trading -60.75% off 52-week high price. On the other end, the stock has been noted 57.14% away from low price over the last 52-weeks. The stock disclosed a move of -6.47% away from 50 day moving average and -48.56% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.86% off 20-day moving average. It has market cap of $23.83M.

Harvest Capital Credit Corporation (HCAP) reported financial results for its fiscal year and fourth quarter ended December 31, 2019 and that its Board of Directors reported distributions of $0.08 per share for each of the months of February, March, and April of 2020. The February distribution is payable on March 30, 2020 to shareholders of record on March 23, 2020. The March distribution is payable on April 30, 2020 to shareholders of record on April 23, 2020. The April distribution is payable on May 28, 2020 to shareholders of record on May 21, 2020.*

FOURTH QUARTER AND YEAR TO DATE 2019 OPERATING RESULTS

For the three months ended December 31, 2019, the Company recorded a net loss of $0.3M, as contrast to net income of $1.5M in the quarter ended December 31, 2018. The decrease in net income principally resulted from the Company recording lower investment income as a result of a lower weighted average effective yield, lower prepayment and other non-recurring fees, the addition of CP Holding Co., Inc. to non-accrual status during 2019, and a raise in realized losses, offset by a raise in unrealized appreciation and lower operating expenses. Per share earnings (loss) were ($0.05) and $0.24 per share for the three months ended December 31, 2019 and 2018, respectively.

Net investment income and core net investment income was $1.2M, or $0.19 per share, for the quarter ended December 31, 2019, contrast to net investment income and core net investment income of $1.6M, or $0.25 per share, for the quarter ended December 31, 2018, a decrease of $0.4M in the fourth quarter of 2019 contrast to 2018. The decrease in net investment income during the 2019 fourth quarter as contrast to the 2018 fourth quarter, primarily resulted from a decrease of $0.7M in investment income between periods, offset by the Company realizing lower expenses of $0.3M during the three months ended December 31, 2019 as contrast to the three months ended December 31, 2018.

For the year ended December 31, 2019, the Company recorded a net loss of $1.2M, a decrease of $6.3M from $5.1M of net income in the year ended December 31, 2018. The $6.3M decrease was primarily attributable to a $3.5M decrease in investment income, a $1.9M increase in realized losses, and a $2.3M increase in the change in unrealized depreciation, partially offset by a decrease in expenses (net of reimbursements) of $1.4M. Per share earnings (loss) were ($0.20) and $0.79 per share for the years ended December 31, 2019 and 2018, respectively.

Net investment income was $3.8M, or $0.63 per share, for the year ended December 31, 2019, contrast to net investment income of $6.0M, or $0.93 per share, for the year ended December 31, 2018, a decrease of $2.2M in the 2019 fiscal year as contrast to 2018. The decrease in net investment income during the 2019 year as contrast to 2018, was primarily the result of a decrease in investment income, offset by lower operating expenses during the year ended December 31, 2019.

As of December 31, 2019, our total portfolio investments at fair value and total assets were $116.8M and $140.1M, respectively, contrast to $94.9M and $125.3M at December 31, 2018. Net asset value per share was $11.23 at December 31, 2019, contrast to $12.30 at December 31, 2018.

The USA based company Harvest Capital Credit Corporation moved with change of 4.50% to $4.18 with the total traded volume of 37508 shares in recent session versus to an average volume of 27.05K. HCAP’s shares are at -55.03% for the quarter and driving a -61.28% return over the course of the past year and is now at -54.39% since this point in 2018.

 

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