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StockNews.com
StockNews.com
Business
Subhasree Kar

Is Prospect Capital (PSEC) a Buy, Hold or Sell?

PSEC Prospect Capital

Prospect Capital Corporation (PSEC) has taken a hit, with its stock currently trading below its 50-day and 200-day moving averages of $6.60 and $7.12, respectively. Moreover, on May 2, 2023, PSEC hit its 52-week low of $5.92.

The company’s first-quarter results added to the downward momentum, with Net Investment Income (NII) of $102.18 million or $0.21 per basic share, falling from $106.70 million or $0.23 in the previous quarter. Moreover, PSEC’s revenue missed analysts’ estimates, while its bottom line declined to negative territory.

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