Horizon Technology Finance (HRZN) Downgraded by Keefe, Bruyette & Woods to “Underperform”

Horizon Technology Finance (NASDAQ:HRZN) was downgraded by investment analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “underperform” rating in a research report issued on Sunday, MarketBeat reports. They presently have a $10.00 price objective on the investment management company’s stock, down from their previous price objective of $10.50. Keefe, Bruyette & Woods’ price objective would indicate a potential downside of 11.35% from the company’s current price.

A number of other analysts also recently issued reports on HRZN. ValuEngine raised Horizon Technology Finance from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Zacks Investment Research raised Horizon Technology Finance from a “sell” rating to a “hold” rating in a report on Wednesday, July 4th. TheStreet raised Horizon Technology Finance from a “c” rating to a “b-” rating in a report on Tuesday, July 10th. Compass Point downgraded Horizon Technology Finance from a “neutral” rating to a “sell” rating in a report on Wednesday, August 1st. Finally, National Securities reaffirmed a “neutral” rating and set a $11.00 price target on shares of Horizon Technology Finance in a report on Monday, August 6th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $11.25.

HRZN opened at $11.28 on Friday. Horizon Technology Finance has a 12 month low of $9.92 and a 12 month high of $11.97. The firm has a market cap of $132.14 million, a P/E ratio of 10.54 and a beta of 0.86.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, July 31st. The investment management company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Horizon Technology Finance had a return on equity of 9.41% and a net margin of 39.15%. The firm had revenue of $7.31 million during the quarter, compared to analysts’ expectations of $7.20 million. Analysts anticipate that Horizon Technology Finance will post 1.14 earnings per share for the current fiscal year.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries.

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