B. Riley Financial Has Lowered Expectations for Horizon Technology Finance (NASDAQ:HRZN) Stock Price

Horizon Technology Finance (NASDAQ:HRZN) had its price objective cut by research analysts at B. Riley Financial from $7.00 to $5.50 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the investment management company’s stock. B. Riley Financial’s price target points to a potential upside of 27.91% from the company’s previous close.

A number of other equities analysts have also recently weighed in on HRZN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a report on Thursday, January 22nd. Keefe, Bruyette & Woods upgraded Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price objective for the company in a research report on Thursday. Finally, UBS Group upped their target price on Horizon Technology Finance from $6.25 to $6.50 and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $6.20.

Horizon Technology Finance Stock Performance

NASDAQ HRZN traded down $0.33 during mid-day trading on Friday, reaching $4.30. 1,657,902 shares of the stock were exchanged, compared to its average volume of 1,096,724. The company has a market capitalization of $205.58 million, a P/E ratio of -26.88 and a beta of 0.97. The business’s 50 day moving average is $6.46 and its 200-day moving average is $6.49. Horizon Technology Finance has a 1 year low of $4.28 and a 1 year high of $9.52.

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

Institutional Trading of Horizon Technology Finance

Institutional investors have recently made changes to their positions in the company. N.E.W. Advisory Services LLC increased its position in shares of Horizon Technology Finance by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock worth $26,000 after purchasing an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Horizon Technology Finance during the second quarter worth $60,000. Nations Financial Group Inc. IA ADV acquired a new stake in shares of Horizon Technology Finance in the fourth quarter valued at about $67,000. Allworth Financial LP purchased a new position in shares of Horizon Technology Finance in the second quarter worth about $73,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Horizon Technology Finance during the second quarter worth about $77,000. 4.94% of the stock is owned by institutional investors and hedge funds.

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.