Horizon Technology Finance (NASDAQ:HRZN) Stock Rating Lowered by Zacks Research

Horizon Technology Finance (NASDAQ:HRZN) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Technology Finance in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods upgraded 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 report on Thursday. UBS Group increased their target price 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. B. Riley Financial dropped their price target on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a research note on Friday. Finally, Wall Street Zen lowered shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $6.20.

Horizon Technology Finance Price Performance

Shares of Horizon Technology Finance stock traded down $0.43 during trading hours on Thursday, reaching $4.20. The company’s stock had a trading volume of 3,274,308 shares, compared to its average volume of 1,299,742. The firm has a 50 day moving average price of $6.41 and a 200-day moving average price of $6.47. The stock has a market cap of $200.80 million, a P/E ratio of -26.25 and a beta of 0.97. Horizon Technology Finance has a one year low of $4.16 and a one year high of $9.52.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Green Alpha Advisors LLC increased its stake in Horizon Technology Finance by 11.8% in the 4th quarter. Green Alpha Advisors LLC now owns 558,944 shares of the investment management company’s stock worth $3,605,000 after buying an additional 58,915 shares during the period. Eagle Point Credit Management LLC bought a new position in Horizon Technology Finance in the 4th quarter worth about $2,385,000. Millennium Management LLC purchased a new position in shares of Horizon Technology Finance during the third quarter worth approximately $1,099,000. Virtus Investment Advisers LLC raised its stake in shares of Horizon Technology Finance by 25.6% during the second quarter. Virtus Investment Advisers LLC now owns 177,768 shares of the investment management company’s stock valued at $1,280,000 after acquiring an additional 36,226 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of Horizon Technology Finance by 40.3% in the third quarter. UBS Group AG now owns 106,964 shares of the investment management company’s stock valued at $652,000 after purchasing an additional 30,716 shares during the period. 4.94% of the stock is currently owned by institutional investors.

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.