Horizon Technology Finance (NASDAQ:HRZN) Rating Increased to Hold at Zacks Research

Horizon Technology Finance (NASDAQ:HRZN) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts also recently commented on HRZN. Wall Street Zen downgraded shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Oppenheimer reduced their target price on shares of Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Thursday, January 22nd. B. Riley Financial reduced their target price on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a research note on Friday, March 6th. Finally, Keefe, Bruyette & Woods raised shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 target price on the stock in a research note on Thursday, March 5th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Horizon Technology Finance presently has a consensus rating of “Hold” and an average target price of $6.10.

Horizon Technology Finance Trading Up 0.7%

NASDAQ:HRZN opened at $4.54 on Thursday. The company’s 50-day moving average price is $4.48 and its 200-day moving average price is $5.81. The company has a market cap of $217.06 million, a P/E ratio of 10.56 and a beta of 0.99. Horizon Technology Finance has a twelve month low of $3.80 and a twelve month high of $8.46.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, May 5th. The investment management company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. The company had revenue of ($6.19) million for the quarter, compared to the consensus estimate of $21.09 million. On average, analysts expect that Horizon Technology Finance will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently made changes to their positions in HRZN. N.E.W. Advisory Services LLC raised its stake in shares of Horizon Technology Finance by 100.0% in 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. Sanctuary Advisors LLC purchased a new stake in shares of Horizon Technology Finance in the 1st quarter valued at approximately $50,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Horizon Technology Finance in the 1st quarter valued at approximately $52,000. Tower Research Capital LLC TRC purchased a new stake in shares of Horizon Technology Finance in the 2nd quarter valued at approximately $60,000. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in shares of Horizon Technology Finance in the 4th quarter valued at approximately $67,000. 4.94% of the stock is owned by hedge funds and other 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.