OFS Credit Company, Inc. (NASDAQ:OCCI) Short Interest Down 46.3% in June

OFS Credit Company, Inc. (NASDAQ:OCCI) saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 129,522 shares, a decrease of 46.3% from the June 15th total of 241,000 shares. Based on an average trading volume of 317,151 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.4% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of OFS Credit from a “sell” rating to a “hold” rating in a research note on Sunday, June 21st.

OFS Credit Trading Down 7.5%

OCCI traded down $0.19 on Thursday, hitting $2.33. 627,958 shares of the stock traded hands, compared to its average volume of 332,017. The business has a fifty day moving average price of $3.00 and a two-hundred day moving average price of $3.43. The firm has a market capitalization of $68.44 million, a PE ratio of -1.91 and a beta of 0.71. OFS Credit has a 52 week low of $2.33 and a 52 week high of $6.28.

OFS Credit (NASDAQ:OCCI) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $0.19 EPS for the quarter. The firm had revenue of $9.20 million during the quarter.

Institutional Investors Weigh In On OFS Credit

A number of institutional investors have recently bought and sold shares of the business. Virtus Investment Advisers LLC raised its stake in shares of OFS Credit by 0.9% in the 4th quarter. Virtus Investment Advisers LLC now owns 421,233 shares of the company’s stock valued at $2,039,000 after buying an additional 3,796 shares in the last quarter. Kestra Advisory Services LLC boosted its position in shares of OFS Credit by 32.3% during the 4th quarter. Kestra Advisory Services LLC now owns 82,856 shares of the company’s stock valued at $401,000 after acquiring an additional 20,238 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in OFS Credit in the fourth quarter valued at about $62,000. Osaic Holdings Inc. increased its stake in OFS Credit by 61.3% in the second quarter. Osaic Holdings Inc. now owns 10,783 shares of the company’s stock valued at $67,000 after acquiring an additional 4,100 shares during the period. Finally, Jane Street Group LLC acquired a new position in OFS Credit in the first quarter worth about $385,000. Institutional investors and hedge funds own 23.77% of the company’s stock.

About OFS Credit

OFS Credit Company, Inc (NASDAQ: OCCI) is a closed-end, externally managed business development company that primarily invests in senior secured loans to U.S. middle-market companies. As a registered investment company under the Investment Company Act of 1940, OFS Credit seeks to generate current income and capital appreciation by providing first-lien and second-lien debt financing to privately held and sponsor-backed businesses. The company targets borrowers with stable cash flows and defensible market positions across diverse industries, including business services, healthcare, manufacturing and technology.

The company’s investment portfolio is weighted toward floating-rate loan instruments and subordinated debt, complemented by selective equity and equity-related securities.