HTGC

Hercules Capital, Inc. NYSE Listed Jun 9, 2005

Financial Services ·Asset Management ·US · htgc.com

$16.44

Mkt Cap $3.0B

52w Low $13.70 45.9% of range 52w High $19.67

50d MA $14.99 200d MA $17.53

P/E (TTM) 8.6x

EV/EBITDA 15.5x

P/B 1.3x

Debt/Equity 1.0x

ROE 15.3%

P/FCF -8.0x

RSI (14) —

ATR (14) —

Beta 0.78

50d MA $14.99

200d MA $17.53

Avg Volume 2.9M

About

Hercules Capital, Inc. is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capi… Hercules Capital, Inc. is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies. The firm provides growth capital financing solutions for capital extension; management buy-out and corporate spin-out financing solutions; company, asset specific, or intellectual property acquisition financing; convertible, subordinated and/or mezzanine loans; domestic and international corporate expansion; vendor financing; revenue acceleration by sales and marketing development, and manufacturing expansion. It provides asset-based financing with a focus on cash flow; accounts receivable facilities; equipment loans or leases; equipment acquisition; facilities build-out and/or expansion; working capital revolving lines of credit; inventory. The firm also provides bridge financing to IPO or mergers and acquisitions or technology acquisition; dividend recapitalizations and other sources of investor liquidity; cash flow financing to protect against share price volatility; competitor acquisition; pre-IPO financing for extra cash on the balance sheet; public company financing to continue asset growth and production capacity; short-term bridge financing; and strategic and intellectual property acquisition financings. It also focuses on customized financing solutions, emerging growth, mid venture, and late venture financing. The firm invests primarily in structured debt with warrants and, to a lesser extent, in senior debt and equity investments. The firm generally seeks to invest in companies that have been operating for at least six to 12 months prior to the date of their investment. It prefers to invest in technology, energy technology, sustainable and renewable technology, and life sciences. Within technology the firm focuses on advanced specialty materials and chemicals; communication and networking, consumer and business products; consumer products and services, digital media and consumer internet; electronics and computer hardware; enterprise software and services; gaming; healthcare services; information services; business services; media, content and information; mobile; resource management; security software; semiconductors; semiconductors and hardware; and software sector. Within energy technology, it invests in agriculture; clean technology; energy and renewable technology, fuels and power technology; geothermal; smart grid and energy efficiency and monitoring technologies; solar; and wind. Within life sciences, the firm invests in biopharmaceuticals; biotechnology tools; diagnostics; drug discovery, development and delivery; medical devices and equipment; surgical devices; therapeutics; pharma services; and specialty pharmaceuticals. It also invests in educational services. The firm invests primarily in United States based companies and considers investment in the West Coast, Mid-Atlantic regions, Southeast and Midwest; particularly in the areas of software, biotech and information services. The firm prefers to invest between $10 million to $250 million in equity per transactions. It invests generally between $1 million to $40 million in companies focused primarily on business services, communications, electronics, hardware, and healthcare services. The firm invests primarily in private companies but also have investments in public companies. For equity investments, the firm seeks to represent a controlling interest in its portfolio companies which may exceed 25% of the voting securities of such companies. The firm seeks to invest a limited portion of its assets in equipment-based loans to early-stage prospective portfolio companies. These loans are generally for amounts up to $3 million but may be up to $15 million for certain energy technology venture investments. The firm allows certain debt investments have the right to convert a portion of the debt investment into equity. It also co-invests with other private equity firms. The firm seeks to exit its investments through initial public offering, a private sale of equity interest to a third party, a merger or an acquisition of the company or a purchase of the equity position by the company or one of its stockholders. The firm has structured debt with warrants which typically have maturities of between two and seven years with an average of three years; senior debt with an investment horizon of less than three years; equipment loans with an investment horizon ranging from three to four years; and equity related securities with an investment horizon ranging from three to seven years. The firm prefers to invest through its balance sheet capital. The firm formerly known as Hercules Technology Growth Capital, Inc. Hercules Capital, Inc. was founded in December 2003 and is based in Palo Alto, California with additional offices in Connecticut; Boston, Massachusetts; San Diego, California; Westport, Connecticut; Elmhurst, Illinois; Santa Monica, California; McLean, Virginia; New York, New York; Radnor, Pennsylvania; and Washington, District of Columbia and London, United Kingdom.

Recent Earnings

Date	Time	Est	Rptd	Surp	Base	Gap%	D1%	D2%	D3%	D4%	D5%	Guide ▲★
May 5, 2026	AMC	0.47	0.48	+2.1%	16.57	+2.3%	-0.8%	—	—	—	—	—
Feb 12, 2026	AMC	0.48	0.48	+0.0%	16.60	-3.3%	-6.1%	-4.6%	-3.9%	-5.7%	-7.0%	—
Oct 30, 2025	AMC	0.48	0.49	+2.1%	17.59	-0.5%	+1.9%	+1.3%	+2.2%	+2.8%	+1.1%	—
Jul 31, 2025	AMC	0.47	0.50	+6.4%	18.76	+1.3%	+2.1%	+3.2%	+3.9%	+4.1%	+3.0%	—
May 1, 2025	AMC	0.46	0.45	-2.2%	17.81	-1.3%	-0.9%	-1.9%	-1.9%	-3.0%	-1.2%	—
Feb 13, 2025	AMC	0.51	0.49	-3.9%	21.05	-2.6%	+1.0%	+3.1%	+4.5%	+3.1%	+2.0%	—
Oct 30, 2024	AMC	0.51	0.51	+0.0%	19.90	-0.5%	-0.7%	-3.4%	-3.9%	-3.9%	-0.6%	—
Aug 1, 2024	AMC	0.51	0.51	+0.0%	21.31	-2.8%	-11.7%	-16.9%	-13.5%	-15.0%	-13.5%	—
May 2, 2024	AMC	0.50	0.50	+0.0%	19.30	+0.6%	+0.7%	+2.0%	+2.4%	+2.1%	+2.9%	—
Feb 15, 2024	AMC	0.50	0.56	+12.0%	17.74	+1.5%	+4.8%	+4.1%	+4.0%	+5.5%	+5.0%	—
Nov 2, 2023	AMC	0.50	0.52	+4.0%	16.10	+0.9%	-1.4%	-0.7%	-2.0%	-1.2%	-1.8%	—
Aug 3, 2023	AMC	0.49	0.53	+8.2%	17.08	+2.8%	+3.9%	+5.5%	+0.0%	-0.1%	+0.3%	—
May 4, 2023	AMC	0.46	0.47	+2.2%	12.54	+2.5%	+4.5%	+8.5%	+6.1%	+8.4%	+8.3%	—

Recent Analyst Ratings

Date	Firm	Action	Grade	Target	Base	Open	Gap%	D1%	D2%	D3%	D4%	D5%
Apr 22	Citizens	Maintains	Market Outperform → Market Outperform	—	$15.67	$15.85	+1.1%	+0.9%	-2.0%	-1.0%	-1.2%	-0.1%
Apr 16	Keefe, Bruyette & Woods	Maintains	Outperform → Outperform	—	$15.68	$15.74	+0.4%	-0.3%	+1.8%	+1.5%	-0.1%	+0.8%
Apr 7	Piper Sandler	Maintains	Neutral → Neutral	—	$15.18	$15.10	-0.5%	-0.4%	-1.3%	-2.9%	-1.5%	+0.7%
Mar 13	UBS	Maintains	Neutral → Neutral	—	$14.04	$14.13	+0.6%	+0.0%	+0.1%	+3.3%	+3.0%	+2.7%
Feb 13	Wells Fargo	Maintains	Overweight → Overweight	—	$16.60	$16.06	-3.3%	-6.1%	-4.6%	-3.9%	-5.7%	-7.0%
Feb 13	Piper Sandler	Downgrade	Overweight → Neutral	—	$16.60	$16.06	-3.3%	-6.1%	-4.6%	-3.9%	-5.7%	-7.0%
Feb 13	Keefe, Bruyette & Woods	Maintains	Outperform → Outperform	—	$16.60	$16.06	-3.3%	-6.1%	-4.6%	-3.9%	-5.7%	-7.0%
Nov 4	Compass Point	Upgrade	Neutral → Buy	—	$17.81	$17.87	+0.3%	+0.9%	+1.5%	-0.2%	+1.1%	+0.2%
Oct 14	UBS	Maintains	Neutral → Neutral	—	$17.13	$16.95	-1.1%	+1.7%	+1.5%	+0.2%	+0.8%	+2.1%
Oct 9	Piper Sandler	Maintains	Overweight → Overweight	—	$17.71	$17.60	-0.6%	-3.7%	-5.7%	-3.3%	-1.6%	-1.8%
Aug 4	JMP Securities	Maintains	Market Outperform → Market Outperform	—	$19.15	$19.17	+0.1%	+1.1%	+1.8%	+1.9%	+0.9%	+1.8%
Aug 1	Piper Sandler	Maintains	Overweight → Overweight	—	$18.76	$19.00	+1.3%	+2.1%	+3.2%	+3.9%	+4.1%	+3.0%
Jul 16	UBS	Maintains	Neutral → Neutral	—	$19.03	$19.05	+0.1%	+1.0%	+2.1%	+1.6%	+0.5%	+1.2%
Apr 28	Wells Fargo	Maintains	Overweight → Overweight	—	$17.91	$17.92	+0.1%	+1.0%	+1.3%	-0.1%	-0.6%	-1.5%
Apr 17	UBS	Maintains	Neutral → Neutral	—	$17.23	$17.23	+0.0%	+1.8%	-0.5%	+1.0%	+2.2%	+4.1%
Apr 8	Keefe, Bruyette & Woods	Maintains	Outperform → Outperform	—	$16.60	$17.35	+4.5%	-2.2%	+5.4%	+1.4%	+1.4%	+3.0%
Apr 8	Piper Sandler	Maintains	Overweight → Overweight	—	$16.60	$17.35	+4.5%	-2.2%	+5.4%	+1.4%	+1.4%	+3.0%
Feb 19	Compass Point	Maintains	Neutral → Neutral	—	$21.70	$21.60	-0.5%	+1.4%	+0.0%	-1.1%	-1.3%	-2.2%
Feb 14	JMP Securities	Maintains	Market Outperform → Market Outperform	—	$21.05	$20.50	-2.6%	+1.0%	+3.1%	+4.5%	+3.1%	+2.0%
Jan 6	JMP Securities	Maintains	Market Outperform → Market Outperform	—	$20.12	$20.29	+0.8%	+0.5%	-0.5%	-0.7%	-1.9%	-1.3%
Dec 12	Keefe, Bruyette & Woods	Upgrade	Market Perform → Outperform	—	$19.40	$19.74	+1.8%	+0.2%	+0.1%	-0.9%	-1.1%	-3.1%
Dec 6	JMP Securities	Maintains	Market Outperform → Market Outperform	—	$18.91	$18.98	+0.4%	+3.2%	+2.5%	+3.9%	+2.6%	+2.8%
Oct 29	Wells Fargo	Maintains	Overweight → Overweight	—	$20.14	$20.01	-0.6%	-0.7%	-1.2%	-1.9%	-4.5%	-5.0%
Aug 2	Piper Sandler	Maintains	Overweight → Overweight	—	$21.31	$20.72	-2.8%	-11.7%	-16.9%	-13.5%	-15.0%	-13.5%
Jul 30	JMP Securities	Maintains	Market Outperform → Market Outperform	—	$21.31	$21.43	+0.6%	+1.7%	+1.2%	+0.0%	-11.7%	-16.9%
Jul 26	Wells Fargo	Maintains	Overweight → Overweight	—	$21.13	$21.25	+0.6%	+1.4%	+0.9%	+2.6%	+2.0%	+0.9%
Jul 10	Piper Sandler	Maintains	Overweight → Overweight	—	$20.50	$20.60	+0.5%	+2.7%	+3.0%	+3.5%	+4.3%	+4.5%
May 3	Keefe, Bruyette & Woods	Maintains	Market Perform → Market Perform	—	$19.30	$19.42	+0.6%	+0.7%	+2.0%	+2.4%	+2.1%	+2.9%
May 3	JMP Securities	Maintains	Market Outperform → Market Outperform	—	$19.30	$19.42	+0.6%	+0.7%	+2.0%	+2.4%	+2.1%	+2.9%
May 3	Piper Sandler	Maintains	Overweight → Overweight	—	$19.30	$19.42	+0.6%	+0.7%	+2.0%	+2.4%	+2.1%	+2.9%
May 3	Wells Fargo	Maintains	Overweight → Overweight	—	$19.30	$19.42	+0.6%	+0.7%	+2.0%	+2.4%	+2.1%	+2.9%
Apr 10	Piper Sandler	Maintains	Overweight → Overweight	—	$18.41	$18.26	-0.8%	-0.4%	+0.0%	-1.3%	-2.4%	-2.3%
Mar 26	JMP Securities	Maintains	Market Outperform → Market Outperform	—	$18.25	$18.30	+0.3%	-0.2%	+0.7%	+1.1%	-0.2%	+0.3%
Feb 16	Piper Sandler	Maintains	Overweight → Overweight	—	$17.74	$18.00	+1.5%	+4.8%	+4.1%	+4.0%	+5.5%	+5.0%
Feb 16	Keefe, Bruyette & Woods	Maintains	Market Perform → Market Perform	—	$17.74	$18.00	+1.5%	+4.8%	+4.1%	+4.0%	+5.5%	+5.0%
Jan 29	Wells Fargo	Maintains	Overweight → Overweight	—	$17.56	$17.59	+0.2%	+0.5%	+1.4%	-1.4%	-2.1%	-1.6%
Jan 16	Compass Point	Downgrade	Buy → Neutral	—	$17.58	$17.28	-1.7%	-3.6%	-3.8%	-3.7%	-3.4%	-1.6%
Dec 20	Piper Sandler	Maintains	Overweight → Overweight	—	$16.22	$16.20	-0.1%	-0.1%	+0.2%	+1.2%	+2.7%	+4.4%
Nov 3	Piper Sandler	Maintains	Overweight → Overweight	—	$16.10	$16.25	+0.9%	-1.4%	-0.7%	-2.0%	-1.2%	-1.8%
Aug 30	Compass Point	Upgrade	Neutral → Buy	—	$16.33	$16.63	+1.8%	+1.3%	+0.7%	+0.2%	-1.7%	-3.1%
Aug 11	JMP Securities	Maintains	Outperform → Outperform	—	$17.13	$17.21	+0.5%	+0.1%	+0.0%	-0.9%	-0.8%	-4.7%
Aug 4	Oppenheimer	Maintains	Perform → Perform	—	$17.08	$17.56	+2.8%	+3.9%	+5.5%	+0.0%	-0.1%	+0.3%
Aug 4	Keefe, Bruyette & Woods	Upgrade	Underperform → Market Perform	—	$17.08	$17.56	+2.8%	+3.9%	+5.5%	+0.0%	-0.1%	+0.3%
May 8	JMP Securities	Maintains	Market Outperform → Market Outperform	—	$13.10	$13.26	+1.2%	+3.9%	+1.6%	+3.7%	+3.7%	+1.8%
May 5	Keefe, Bruyette & Woods	Maintains	Underperform → Underperform	—	$12.54	$12.85	+2.5%	+4.5%	+8.5%	+6.1%	+8.4%	+8.3%
May 5	Wells Fargo	Maintains	Overweight → Overweight	—	$12.54	$12.85	+2.5%	+4.5%	+8.5%	+6.1%	+8.4%	+8.3%
Apr 6	Piper Sandler	Upgrade	Neutral → Overweight	—	$12.49	$12.88	+3.1%	+0.0%	-0.9%	-0.5%	-0.3%	+1.8%
Mar 13	JMP Securities	Maintains	Market Outperform → Outperform	—	$12.29	$11.14	-9.4%	-5.9%	-2.8%	-5.9%	-2.0%	-3.2%
Mar 13	Keefe, Bruyette & Woods	Downgrade	Market Perform → Underperform	—	$12.29	$11.14	-9.4%	-5.9%	-2.8%	-5.9%	-2.0%	-3.2%
Feb 21	JMP Securities	Maintains	Market Outperform → Market Outperform	—	$16.24	$16.13	-0.7%	-4.0%	-3.8%	-3.0%	-2.3%	-1.4%