Horizon Technology Finance Co. (NASDAQ:HRZN) Receives $10.38 Average Price Target from Analysts

Horizon Technology Finance Co. (NASDAQ:HRZN) has been assigned an average rating of “Reduce” from the five research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $10.38.

Several analysts have weighed in on the stock. Oppenheimer dropped their price objective on shares of Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Friday, March 1st. UBS Group decreased their target price on shares of Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a report on Monday, March 18th. B. Riley lowered shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 target price on the stock. in a report on Monday, January 8th. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating on shares of Horizon Technology Finance in a report on Wednesday, February 28th.

Insider Activity at Horizon Technology Finance

In related news, President Gerald A. Michaud purchased 3,650 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average cost of $11.77 per share, with a total value of $42,960.50. Following the acquisition, the president now owns 156,244 shares of the company’s stock, valued at approximately $1,838,991.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Horizon Technology Finance

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. bought a new stake in shares of Horizon Technology Finance during the 1st quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. boosted its position in Horizon Technology Finance by 25,158.3% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 3,031 shares of the investment management company’s stock worth $33,000 after buying an additional 3,019 shares during the period. Creekmur Asset Management LLC acquired a new stake in Horizon Technology Finance during the 4th quarter worth approximately $52,000. JPMorgan Chase & Co. boosted its position in Horizon Technology Finance by 86.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,969 shares of the investment management company’s stock worth $46,000 after buying an additional 1,841 shares during the period. Finally, Cape Investment Advisory Inc. acquired a new stake in Horizon Technology Finance during the 4th quarter worth approximately $56,000. 4.94% of the stock is owned by institutional investors.

Horizon Technology Finance Stock Performance

NASDAQ HRZN opened at $11.49 on Wednesday. The firm has a 50-day moving average of $11.87 and a 200-day moving average of $12.33. The stock has a market cap of $383.74 million, a PE ratio of -23.45 and a beta of 1.21. Horizon Technology Finance has a 52-week low of $10.75 and a 52-week high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings data on Tuesday, February 27th. The investment management company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). Horizon Technology Finance had a positive return on equity of 18.24% and a negative net margin of 15.14%. The business had revenue of $28.18 million during the quarter, compared to analyst estimates of $29.21 million. As a group, analysts predict that Horizon Technology Finance will post 1.53 EPS for the current fiscal year.

Horizon Technology Finance Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 16th. Investors of record on Tuesday, March 19th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 18th. This is a positive change from Horizon Technology Finance’s previous dividend of $0.11. This represents a dividend yield of 16.48%. Horizon Technology Finance’s payout ratio is -269.39%.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries.