Horizon Technology Finance (NASDAQ:HRZN) Stock Gets Price Target Reduction from UBS Group

Horizon Technology Finance (NASDAQ:HRZN) had its price target dropped by equities research analysts at UBS Group from $4.50 to $3.75 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the investment management company’s stock. UBS Group‘s target price points to a potential downside of 0.27% from the stock’s current price.

A number of other research firms also recently issued reports on HRZN. Oppenheimer dropped their price objective on shares of Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Friday, August 7th. Keefe, Bruyette & Woods reduced their price objective on shares of Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating for the company in a research note on Friday, August 21st. Weiss Ratings downgraded shares of Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 19th. Compass Point began coverage on Horizon Technology Finance in a report on Thursday, August 27th. They set a “buy” rating and a $5.50 target price for the company. Finally, B. Riley Financial dropped their target price on Horizon Technology Finance from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.65.

Horizon Technology Finance Stock Performance

Horizon Technology Finance stock traded down $0.11 during midday trading on Tuesday, hitting $3.76. 500,400 shares of the company’s stock were exchanged, compared to its average volume of 815,677. Horizon Technology Finance has a 12 month low of $3.70 and a 12 month high of $6.85. The firm has a 50-day moving average of $4.44 and a two-hundred day moving average of $4.73. The company has a market cap of $252.03 million, a PE ratio of -5.01 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Thursday, November 5th. The investment management company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Horizon Technology Finance had a net margin of 5.27% and a return on equity of 11.15%. The business had revenue of $24.06 million for the quarter, compared to the consensus estimate of $25.12 million. As a group, equities analysts expect that Horizon Technology Finance will post 0.63 earnings per share for the current year.

Institutional Trading of Horizon Technology Finance

A number of institutional investors have recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in Horizon Technology Finance during the second quarter valued at approximately $1,821,000. Bank of America Corp DE acquired a new stake in Horizon Technology Finance in the second quarter valued at approximately $1,068,000. Green Alpha Advisors LLC acquired a new stake in Horizon Technology Finance in the second quarter valued at approximately $2,033,000. BlackRock Inc. acquired a new stake in Horizon Technology Finance in the second quarter valued at approximately $856,000. Finally, HighTower Advisors LLC purchased a new position in Horizon Technology Finance in the second quarter worth $61,000. 4.94% of the stock is currently owned by institutional investors.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a specialty finance company that has elected to be regulated as a business development company. It provides secured venture loans to development-stage companies backed by venture capital or private equity investors. The company primarily finances businesses in the technology, life sciences, healthcare information and sustainability sectors. Its lending solutions are designed to support needs such as product development, commercialization, acquisitions, working capital and other corporate purposes.