Horizon Technology Finance (NASDAQ:HRZN) Price Target Raised to $6.50

Horizon Technology Finance (NASDAQ:HRZN) had its price target upped by research analysts at UBS Group from $6.25 to $6.50 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the investment management company’s stock. UBS Group’s price target would indicate a potential downside of 0.84% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. Maxim Group cut their price target on shares of Horizon Technology Finance from $10.00 to $7.50 and set a “buy” rating on the stock in a report on Monday, August 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Technology Finance in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Horizon Technology Finance from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Horizon Technology Finance presently has an average rating of “Reduce” and a consensus price target of $7.00.

Horizon Technology Finance Trading Up 1.6%

NASDAQ HRZN traded up $0.11 on Wednesday, reaching $6.56. The stock had a trading volume of 75,656 shares, compared to its average volume of 536,904. Horizon Technology Finance has a 1 year low of $5.70 and a 1 year high of $9.99. The business has a 50 day moving average price of $6.34 and a 200 day moving average price of $7.07. The company has a market capitalization of $290.93 million, a price-to-earnings ratio of -9.80 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. The business had revenue of $26.32 million during the quarter, compared to analyst estimates of $22.99 million. Horizon Technology Finance had a positive return on equity of 15.01% and a negative net margin of 24.19%. On average, analysts anticipate that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Horizon Technology Finance

A number of hedge funds have recently bought and sold shares of the company. Green Alpha Advisors LLC grew its position in shares of Horizon Technology Finance by 29.0% in the third quarter. Green Alpha Advisors LLC now owns 500,029 shares of the investment management company’s stock valued at $3,050,000 after purchasing an additional 112,303 shares during the last quarter. Millennium Management LLC acquired a new stake in Horizon Technology Finance in the 3rd quarter valued at approximately $1,099,000. Virtus Investment Advisers LLC increased its position in Horizon Technology Finance by 25.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 177,768 shares of the investment management company’s stock worth $1,280,000 after buying an additional 36,226 shares during the period. UBS Group AG lifted its holdings in shares of Horizon Technology Finance by 40.3% during the third quarter. UBS Group AG now owns 106,964 shares of the investment management company’s stock worth $652,000 after buying an additional 30,716 shares during the last quarter. Finally, Magnetar Financial LLC bought a new stake in Horizon Technology Finance in the 3rd quarter valued at $435,000. 4.94% of the stock is currently owned by institutional investors.

Horizon Technology Finance Company Profile

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.