Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives $6.17 Average PT from Brokerages

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have earned an average recommendation of “Reduce” from the seven brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $6.10.

Several equities research analysts have commented on HRZN shares. Keefe, Bruyette & Woods upgraded shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 target price on the stock in a research report on Thursday, March 5th. Zacks Research downgraded Horizon Technology Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Wall Street Zen lowered shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Oppenheimer dropped their target price on Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Thursday, January 22nd.

Institutional Trading of Horizon Technology Finance

A number of hedge funds have recently made changes to their positions in HRZN. N.E.W. Advisory Services LLC grew its stake in Horizon Technology Finance by 100.0% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock worth $26,000 after purchasing an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Horizon Technology Finance during the second quarter valued at approximately $60,000. Nations Financial Group Inc. IA ADV bought a new stake in Horizon Technology Finance during the 4th quarter valued at $67,000. HRT Financial LP bought a new stake in shares of Horizon Technology Finance during the fourth quarter valued at about $77,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Horizon Technology Finance in the 1st quarter worth approximately $52,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Horizon Technology Finance Price Performance

Horizon Technology Finance stock opened at $4.22 on Monday. Horizon Technology Finance has a 12 month low of $3.80 and a 12 month high of $8.46. The stock has a market capitalization of $201.76 million, a PE ratio of -26.38 and a beta of 0.99. The business has a 50 day simple moving average of $4.59 and a 200-day simple moving average of $5.84.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, March 3rd. The investment management company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). Horizon Technology Finance had a positive return on equity of 14.52% and a negative net margin of 2.77%.The firm had revenue of $0.58 million for the quarter, compared to analyst estimates of $25.64 million. As a group, equities research analysts anticipate that Horizon Technology Finance will post 0.78 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 16th. Investors of record on Monday, May 18th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a c) annualized dividend and a yield of 17.1%. Horizon Technology Finance’s payout ratio is -450.00%.

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.