Horizon Technology Finance (NASDAQ:HRZN) Stock Rating Upgraded by Keefe, Bruyette & Woods

Horizon Technology Finance (NASDAQ:HRZN) was upgraded by equities research analysts at Keefe, Bruyette & Woods from an “underperform” rating to a “market perform” rating in a report released on Thursday, Marketbeat Ratings reports. The firm presently has a $5.00 price target on the investment management company’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 19.05% from the company’s current price.

A number of other equities research analysts also recently issued reports on HRZN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a research report on Thursday, January 22nd. UBS Group lifted their target price on shares of 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 equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $6.20.

Horizon Technology Finance Trading Down 9.3%

Shares of NASDAQ:HRZN opened at $4.20 on Thursday. The stock has a market cap of $200.80 million, a PE ratio of -26.25 and a beta of 0.97. The stock’s fifty day simple moving average is $6.41 and its two-hundred day simple moving average is $6.47. Horizon Technology Finance has a 1-year low of $4.16 and a 1-year high of $9.52.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, March 3rd. The investment management company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.12). The firm had revenue of $0.58 million during the quarter, compared to the consensus estimate of $25.64 million. Horizon Technology Finance had a positive return on equity of 14.52% and a negative net margin of 2.77%. On average, sell-side analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HRZN. N.E.W. Advisory Services LLC raised its holdings in Horizon Technology Finance by 100.0% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 2,000 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of Horizon Technology Finance in the second quarter worth $60,000. Nations Financial Group Inc. IA ADV bought a new position in shares of Horizon Technology Finance in the fourth quarter worth $67,000. Allworth Financial LP purchased a new position in shares of Horizon Technology Finance in the second quarter valued at $73,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Horizon Technology Finance in the second quarter valued at $77,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

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.