Noble Capital Markets
Noble Capital Markets is a broker-dealer and investment bank based in Boca Raton, Florida, focused on small- and micro-cap emerging-growth companies. It is known for company-sponsored equity research distributed free through its Channelchek platform and for its NobleCon investor conference.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 1612M
- Actions
- 1812M
- Ratings / Price targets
- 18 / 0
- Upgrades / Downgrades
- 1 / 0
- Initiations
- 8
- Buy-rated
- 88%of 16 rated
- On record
- Jul 2012 – Sep 2026
Overview
Director of research Michael Kupinski, a former A.G. Edwards media analyst, joined in 2007. In September 2026, 93% of covered stocks were rated Outperform.
Established in 1984, Noble Capital Markets is a subsidiary of Noble Financial Group and is led by chief executive Nico Pronk. It launched the NobleCon conference in 2005. In late 2018 it adopted a company-sponsored research model, with issuers paying a monthly fee and reports free to investors, and its parent launched Channelchek, which listed more than 7,000 emerging-growth public companies in 2026.
Milestones
- 1984
Established as a broker-dealer
- 2005
Launches NobleCon investor conference
- 2018
Channelchek launched; company-sponsored research adopted
Firm facts
- Legal name
- Noble Capital Markets, Inc.
- Type
- Boutique
- Founded
- 1984
- Headquarters
- Boca Raton, United States
- Parent
- Noble Financial Group, Inc.
- Chief Executive Officer
- Nico Pronk
- Director of Research
- Michael Kupinski
- Rating scale
- OutperformMarket PerformUnderperform
- Also filed as
- Noble Capital · Noble Financial · Noble Financial Group
- Website
- noblecapitalmarkets.com
Research philosophy
We’re passionate but not promotional.
Noble describes its approach as identifying overlooked, often misunderstood stocks with the potential for long-term fundamental growth. In 2019, it stated that the research department alone decides whether to initiate sponsored coverage and that analysts are not compensated for the opinions they express. Sponsors must accept that those opinions may conflict with their own views; their only remedy is to end the agreement.
Rating methodology
Since August 20, 2018, Noble has used Outperform, Market Perform and Underperform ratings. These indicate potential gains of more than 15%, returns between -15% and 15%, and potential losses of more than 15%, respectively, measured from the current share price.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 CoreCivic, Inc.CXW | Outperform | — |
 Vince Holding Corp.VNCE | Outperform | — |
 T3 Defense Inc.DFNS | Outperform | — |
 The GEO Group, Inc.GEO | Outperform | — |
 Kratos Defense & Security Solutions, Inc.KTOS | Outperform | — |
 Bain Capital Specialty Finance, Inc.BCSF | Neutral | — |
 DLH Holdings Corp.DLHC | Outperform | — |
 1-800-FLOWERS.COM, Inc.FLWS | Outperform | — |
 GeoVax Labs, Inc.GOVX | Outperform | — |
| KDKDKCF | Outperform | — |
Recent actions
| Date | Stock | Rating action | Rating |
|---|---|---|---|
| Sep 18 | Bain Capital Specialty Finance, Inc.BCSF | Initiate | Neutral |
| Sep 17 | KDKDKCF | Initiate | Outperform |
| Sep 15 | GeoVax Labs, Inc.GOVX | Reiterate | Outperform |
| Sep 11 | Vince Holding Corp.VNCE | Reiterate | Outperform |
| Aug 24 | T3 Defense Inc.DFNS | Reiterate | Outperform |
| Aug 18 | XRXerox Holdings CorporationXRX | Initiate | Outperform |
| Aug 10 | The GEO Group, Inc.GEO | Reiterate | Outperform |
| Aug 10 | CoreCivic, Inc.CXW | Reiterate | Outperform |
| Jul 31 | DLH Holdings Corp.DLHC | Reiterate | Outperform |
| Jul 13 | VIVivoPower PLCVIVO | Initiate | Outperform |
| Jul 7 | CoreCivic, Inc.CXW | Reiterate | Outperform |
| Jul 6 | NNNanoViricides, Inc.NNVC | Initiate | Outperform |