Horizon Technology Finance (NASDAQ:HRZN) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Horizon Technology Finance (NASDAQ:HRZN) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently commented on HRZN. Oppenheimer dropped their price objective on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Friday, August 7th. Weiss Ratings cut Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 19th. Keefe, Bruyette & Woods decreased their target price on Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating for the company in a research report on Friday, August 21st. UBS Group decreased their target price on Horizon Technology Finance from $4.50 to $3.75 and set a “neutral” rating for the company in a research report on Tuesday, November 10th. Finally, Compass Point began coverage on Horizon Technology Finance in a research note on Thursday, August 27th. They issued a “buy” rating and a $5.50 price target for the company. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Horizon Technology Finance has a consensus rating of “Hold” and a consensus price target of $4.65.

Horizon Technology Finance Price Performance

Shares of Horizon Technology Finance stock traded down $0.04 on Friday, hitting $3.72. 425,221 shares of the company’s stock traded hands, compared to its average volume of 501,106. The firm’s 50-day moving average price is $4.36 and its two-hundred day moving average price is $4.67. The stock has a market capitalization of $242.28 million, a PE ratio of -4.96 and a beta of 1.00. Horizon Technology Finance has a one year low of $3.70 and a one year high of $6.78.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings results on Thursday, November 5th. The investment management company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Horizon Technology Finance had a positive return on equity of 10.31% and a negative net margin of 57.42%. The company had revenue of $24.06 million for the quarter, compared to the consensus estimate of $25.12 million. On average, analysts forecast that Horizon Technology Finance will post 0.64 earnings per share for the current fiscal year.

Horizon Technology Finance Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 16th. Investors of record on Thursday, February 18th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 19.4%. The ex-dividend date of this dividend is Thursday, February 18th. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -96.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Green Alpha Advisors LLC acquired a new stake in Horizon Technology Finance during the 2nd quarter worth approximately $2,033,000. Legal & General Group Plc acquired a new position in shares of Horizon Technology Finance in the second quarter valued at approximately $1,821,000. Bank of America Corp DE acquired a new position in shares of Horizon Technology Finance in the second quarter valued at approximately $1,068,000. BlackRock Inc. acquired a new position in shares of Horizon Technology Finance in the second quarter valued at approximately $856,000. Finally, Corient Private Wealth LP bought a new stake in shares of Horizon Technology Finance during the second quarter worth $423,000. 4.94% of the stock is owned by institutional investors and hedge funds.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a specialty finance company that provides loans and growth capital to venture capital-backed businesses, particularly companies in the development and expansion stages. The company focuses on sectors including technology, life sciences, healthcare information and services, and sustainability. Its financing products primarily include secured loans, and it may also receive warrants or other equity-related interests as part of its investments. Horizon operates in the United States and is externally managed by Horizon Technology Finance Management LLC.