Horizon Technology Finance (NASDAQ:HRZN) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Horizon Technology Finance (NASDAQ:HRZN) issued its quarterly earnings data on Tuesday. The investment management company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12), Zacks reports. The business had revenue of $0.58 million during the quarter, compared to the consensus estimate of $25.64 million. Horizon Technology Finance had a negative net margin of 24.19% and a positive return on equity of 15.01%.

Horizon Technology Finance Stock Performance

Shares of NASDAQ:HRZN traded down $1.39 during trading on Wednesday, reaching $4.72. 3,558,814 shares of the stock traded hands, compared to its average volume of 950,181. The stock has a market cap of $218.63 million, a P/E ratio of -7.04 and a beta of 0.97. The stock has a 50-day moving average of $6.52 and a two-hundred day moving average of $6.52. Horizon Technology Finance has a 52-week low of $4.60 and a 52-week high of $9.52.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HRZN. Tower Research Capital LLC TRC bought a new position in shares of Horizon Technology Finance during the 2nd quarter worth $60,000. HRT Financial LP acquired a new position in Horizon Technology Finance during the 4th quarter valued at about $77,000. Marshall Wace LLP acquired a new position in shares of Horizon Technology Finance in the 2nd quarter valued at $103,000. Virtu Financial LLC purchased a new position in shares of Horizon Technology Finance in the third quarter worth about $119,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Horizon Technology Finance in the second quarter worth $122,000. Institutional investors own 4.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HRZN shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Thursday, January 22nd. UBS Group increased their target price on Horizon Technology Finance from $6.25 to $6.50 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Horizon Technology Finance has a consensus rating of “Reduce” and a consensus price target of $7.00.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.