Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives $6.20 Average Target Price from Analysts

Horizon Technology Finance Corporation (NASDAQ:HRZN) has been given a consensus recommendation of “Reduce” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $6.20.

Several equities research analysts have commented on HRZN shares. UBS Group increased their price objective on shares of Horizon Technology Finance from $6.25 to $6.50 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Keefe, Bruyette & Woods raised Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 target price for the company in a report on Thursday, March 5th. B. Riley Financial decreased their price target on Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a research report on Friday, March 6th. Zacks Research lowered Horizon Technology Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Thursday, January 22nd.

Institutional Trading of Horizon Technology Finance

Several hedge funds have recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC boosted 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 valued at $26,000 after acquiring an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Horizon Technology Finance during the 2nd quarter worth approximately $60,000. Allworth Financial LP bought a new stake in shares of Horizon Technology Finance in the 2nd quarter worth approximately $73,000. Nations Financial Group Inc. IA ADV purchased a new position in Horizon Technology Finance in the fourth quarter valued at approximately $67,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Horizon Technology Finance in the second quarter valued at approximately $77,000. Institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Trading Up 1.9%

Shares of Horizon Technology Finance stock opened at $4.26 on Friday. The stock has a fifty day simple moving average of $6.33 and a 200 day simple moving average of $6.43. Horizon Technology Finance has a 12-month low of $3.97 and a 12-month high of $9.52. The company has a market capitalization of $203.67 million, a P/E ratio of -26.63 and a beta of 0.97.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings data on Tuesday, March 3rd. The investment management company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.12). Horizon Technology Finance had a negative net margin of 2.77% and a positive return on equity of 14.52%. The company had revenue of $0.58 million for the quarter, compared to the consensus estimate of $25.64 million. On average, analysts predict that Horizon Technology Finance will post 1.38 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 issued a $0.06 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 16.9%. The ex-dividend date of this dividend is Monday, May 18th. Horizon Technology Finance’s payout ratio is -825.00%.

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.