WhiteHawk Income (NYSE:WHK) Hits New 52-Week Low – Time to Sell?

WhiteHawk Income Corp. (NYSE:WHK) shares hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $24.01 and last traded at $24.1090, with a volume of 74,784 shares. The stock had previously closed at $25.04.

Analyst Ratings Changes

Several brokerages recently commented on WHK. Weiss Ratings began coverage on WhiteHawk Income in a report on Monday, August 31st. They issued a “sell (e)” rating on the stock. Wall Street Zen downgraded shares of WhiteHawk Income from a “hold” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus started coverage on shares of WhiteHawk Income in a report on Thursday, September 10th. They set a “buy” rating and a $32.00 price target for the company. Raymond James Financial dropped their price target on shares of WhiteHawk Income from $37.00 to $35.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 2nd. Finally, Zacks Research raised shares of WhiteHawk Income to a “hold” rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

WhiteHawk Income Trading Down 2.9%

The company has a market capitalization of $669.82 million and a P/E ratio of -97.26. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average of $26.45.

WhiteHawk Income Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 24th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date of this dividend was Monday, August 24th. WhiteHawk Income’s dividend payout ratio is -176.00%.

Institutional Trading of WhiteHawk Income

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new position in WhiteHawk Income in the second quarter worth approximately $10,215,000. Alyeska Investment Group L.P. bought a new stake in shares of WhiteHawk Income during the second quarter valued at approximately $6,955,000. BlueCrest Capital Management Ltd bought a new stake in shares of WhiteHawk Income during the second quarter valued at approximately $3,756,000. Finally, Readystate Asset Management LP acquired a new position in shares of WhiteHawk Income during the second quarter worth approximately $696,000.

WhiteHawk Income Company Profile

WhiteHawk Income (NYSE:WHK) is a business development company that invests in privately owned, middle-market businesses. The company seeks to generate current income primarily through investments in debt securities, including senior secured loans, second-lien loans, unitranche financing and other forms of private credit.

WhiteHawk Income may also make equity investments in portfolio companies, giving it the potential to participate in their long-term growth. Its investment strategy is focused largely on U.S.