Analysts Set Horizon Technology Finance Corporation (NASDAQ:HRZN) Price Target at $7.00

Horizon Technology Finance Corporation (NASDAQ:HRZN) has received a consensus recommendation of “Reduce” from the six analysts that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $7.00.

A number of research firms have recently issued reports on HRZN. UBS Group increased their target price on Horizon Technology Finance from $6.25 to $6.50 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Wall Street Zen raised Horizon Technology Finance from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Technology Finance in a report on Wednesday, October 8th.

Institutional Investors Weigh In On Horizon Technology Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in HRZN. International Assets Investment Management LLC boosted its stake in shares of Horizon Technology Finance by 3.5% during the third quarter. International Assets Investment Management LLC now owns 59,135 shares of the investment management company’s stock valued at $361,000 after purchasing an additional 2,000 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Horizon Technology Finance by 20.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 43,268 shares of the investment management company’s stock worth $312,000 after buying an additional 7,197 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Horizon Technology Finance during the second quarter valued at approximately $60,000. Allworth Financial LP bought a new position in shares of Horizon Technology Finance during the second quarter valued at about $73,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Horizon Technology Finance in the 2nd quarter worth approximately $77,000. 4.94% of the stock is currently owned by institutional investors.

Horizon Technology Finance Price Performance

HRZN opened at $6.65 on Friday. The stock has a market capitalization of $295.13 million, a price-to-earnings ratio of -9.93 and a beta of 0.98. Horizon Technology Finance has a 12 month low of $5.70 and a 12 month high of $9.99. The business has a 50-day moving average of $6.57 and a two-hundred day moving average of $6.80.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Horizon Technology Finance had a positive return on equity of 15.01% and a negative net margin of 24.19%.The firm had revenue of $26.32 million during the quarter, compared to the consensus estimate of $22.99 million. Equities research analysts anticipate that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a dividend yield of 19.8%. The ex-dividend date is Tuesday, February 17th. Horizon Technology Finance’s dividend payout ratio (DPR) is currently -197.01%.

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.