Brokerages Set Horizon Technology Finance Corporation (NASDAQ:HRZN) Price Target at $5.65

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have been assigned an average rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $5.65.

HRZN has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Horizon Technology Finance in a research note on Friday, May 8th. Zacks Research raised shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. B. Riley Financial reduced their price objective on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a research note on Friday, March 6th. Wall Street Zen downgraded shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Keefe, Bruyette & Woods raised shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price objective on the stock in a research note on Thursday, March 5th.

Horizon Technology Finance Stock Performance

Shares of HRZN opened at $4.19 on Friday. The company has a market capitalization of $286.01 million, a price-to-earnings ratio of 9.74 and a beta of 0.99. The company’s 50 day simple moving average is $4.25 and its 200 day simple moving average is $5.58. Horizon Technology Finance has a 1 year low of $3.80 and a 1 year high of $8.46.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, May 5th. The investment management company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The business had revenue of ($6.19) million for the quarter, compared to the consensus estimate of $21.09 million. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. Equities analysts expect that Horizon Technology Finance will post 0.69 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 17th will be issued a $0.03 dividend. The ex-dividend date is Monday, August 17th. Horizon Technology Finance’s payout ratio is presently 167.44%.

Hedge Funds Weigh In On Horizon Technology Finance

Large investors have recently bought and sold shares of the stock. N.E.W. Advisory Services LLC raised its stake in Horizon Technology Finance by 100.0% during 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 during the period. Sanctuary Advisors LLC purchased a new position in Horizon Technology Finance during the first quarter worth approximately $50,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Horizon Technology Finance during the first quarter worth approximately $52,000. Tower Research Capital LLC TRC purchased a new position in Horizon Technology Finance during the second quarter worth approximately $60,000. Finally, Nations Financial Group Inc. IA ADV purchased a new position in Horizon Technology Finance during the fourth quarter worth approximately $67,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Company Profile

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.