Horizon Technology Finance (NASDAQ:HRZN) Price Target Cut to $5.50 by Analysts at B. Riley Financial

Horizon Technology Finance (NASDAQ:HRZN) had its target price cut by B. Riley Financial from $7.00 to $5.50 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the investment management company’s stock.

Other equities analysts have also issued research reports about the company. UBS Group upped their price objective on Horizon Technology Finance from $6.25 to $6.50 and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods upgraded 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. One investment 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. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $6.20.

Horizon Technology Finance Price Performance

NASDAQ HRZN traded down $0.43 during trading hours on Friday, hitting $4.20. The company’s stock had a trading volume of 3,274,308 shares, compared to its average volume of 1,299,742. Horizon Technology Finance has a 12 month low of $4.16 and a 12 month high of $9.52. The company’s 50 day simple moving average is $6.41 and its two-hundred day simple moving average is $6.47. The company has a market cap of $200.80 million, a P/E ratio of -26.25 and a beta of 0.97.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings results 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 firm had revenue of $0.58 million for the quarter, compared to the consensus estimate of $25.64 million. As a group, research analysts predict that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, May 18th will be issued a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 17.1%. The ex-dividend date is Monday, May 18th. Horizon Technology Finance’s dividend payout ratio is presently -825.00%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. N.E.W. Advisory Services LLC boosted its position in Horizon Technology Finance by 100.0% during 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 purchasing an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Horizon Technology Finance during the 2nd quarter worth approximately $60,000. Allworth Financial LP purchased a new stake in Horizon Technology Finance during the second quarter valued at approximately $73,000. Nations Financial Group Inc. IA ADV acquired a new stake 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 worth $77,000. 4.94% of the stock is owned by institutional investors.

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.