Horizon Technology Finance Corporation (NASDAQ:HRZN) Given Average Rating of “Reduce” by Brokerages

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have earned an average rating of “Reduce” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $6.20.

Several equities research analysts recently weighed in on HRZN shares. 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 research note on Thursday, March 5th. B. Riley Financial dropped their price target 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. Zacks Research downgraded shares of Horizon Technology Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Wall Street Zen cut shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, UBS Group increased their target price on shares of Horizon Technology Finance from $6.25 to $6.50 and gave the company a “neutral” rating in a research report on Wednesday, November 19th.

Horizon Technology Finance Price Performance

NASDAQ:HRZN opened at $4.32 on Friday. Horizon Technology Finance has a 12 month low of $3.97 and a 12 month high of $9.52. The firm has a market capitalization of $206.54 million, a PE ratio of -27.00 and a beta of 0.97. The business’s fifty day moving average price is $6.24 and its 200 day moving average price is $6.40.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, March 3rd. The investment management company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). Horizon Technology Finance had a positive return on equity of 14.52% and a negative net margin of 2.77%.The business had revenue of $0.58 million for the quarter, compared to analysts’ expectations of $25.64 million. As a group, equities analysts anticipate that Horizon Technology Finance will post 1.38 EPS for the current year.

Horizon Technology Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, May 18th will be paid a $0.06 dividend. This represents a c) annualized dividend and a yield of 16.7%. The ex-dividend date is Monday, May 18th. Horizon Technology Finance’s dividend payout ratio is currently -825.00%.

Institutional Trading of Horizon Technology Finance

Hedge funds and other institutional investors have recently made changes to their positions in the company. N.E.W. Advisory Services LLC lifted its holdings 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 purchasing an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in Horizon Technology Finance during the 2nd quarter worth approximately $60,000. Allworth Financial LP purchased a new position in Horizon Technology Finance during the 2nd quarter worth approximately $73,000. Nations Financial Group Inc. IA ADV acquired a new position in Horizon Technology Finance during the fourth quarter worth approximately $67,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Horizon Technology Finance in the second quarter valued at approximately $77,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Horizon Technology Finance Company Profile

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.