In a year marked by persistent market volatility, Oxford Square (NYSE:SQ) Capital Corp. (NASDAQ:OXSQ) stock has recorded a new 52-week low, dipping to $2.74. This latest price level reflects a notable decline in investor confidence as the company grapples with the broader economic challenges that have characterized the past year. The downturn in OXSQ's stock price is part of a broader trend for the firm, which has seen a 1-year change of -2.63%, underscoring the pressures faced by investment management firms in the current financial climate. Investors and analysts are closely monitoring the stock's performance for signs of a rebound as the company adapts to the evolving market conditions.
In other recent news, Oxford Square Capital Corp. reported a decrease in its net investment income and net asset value per share for the third quarter of 2024. The company's net investment income fell to $6.2 million, or $0.10 per share, down from $7.7 million, or $0.13 per share in the previous quarter. The net asset value per share decreased to $2.35 from $2.43 quarter-over-quarter. Total (EPA:TTEF) investment income also experienced a drop, amounting to approximately $10.3 million, a decrease from $11.4 million in the second quarter. Oxford Square Capital also recorded combined net unrealized and realized losses on investments of $7.1 million. On a brighter note, the company issued approximately 5.1 million shares of common stock, generating net proceeds of about $14.5 million. The Board of Directors declared monthly distributions of $0.035 per share for the first quarter of 2025, indicating recent developments in the company's financial strategies.
InvestingPro Insights
Oxford Square Capital Corp. (OXSQ) has recently hit a 52-week low, and InvestingPro data provides additional context to this development. Despite the stock's recent struggles, OXSQ boasts a significant dividend yield of 15.19%, which aligns with an InvestingPro Tip highlighting that the company "pays a significant dividend to shareholders." This high yield could be attractive to income-focused investors, especially considering that OXSQ "has maintained dividend payments for 21 consecutive years," according to another InvestingPro Tip.
However, investors should approach with caution. The company's P/E ratio stands at -36.3, indicating that OXSQ is currently not profitable, which is confirmed by an InvestingPro Tip stating it's "not profitable over the last twelve months." This profitability issue is further reflected in the negative Basic and Diluted EPS of -$0.08 for the last twelve months.
For those interested in a deeper analysis, InvestingPro offers 7 additional tips for OXSQ, providing a more comprehensive view of the company's financial health and market position.
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