Horizon Technology Finance Co. (NASDAQ:HRZN) Given Average Rating of “Reduce” by Analysts

Horizon Technology Finance Co. (NASDAQ:HRZN) has been given an average rating of “Reduce” by the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $8.45.

A number of research analysts have recently commented on the stock. B. Riley initiated coverage on shares of Horizon Technology Finance in a report on Tuesday, May 13th. They issued a “neutral” rating and a $7.00 target price for the company. Keefe, Bruyette & Woods reduced their price objective on shares of Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating for the company in a research report on Tuesday, April 8th. UBS Group reduced their price objective on shares of Horizon Technology Finance from $9.00 to $8.25 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Maxim Group cut their target price on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Finally, Compass Point cut Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $6.50 target price on the stock. in a report on Wednesday, April 30th.

Institutional Trading of Horizon Technology Finance

Several hedge funds and other institutional investors have recently bought and sold shares of HRZN. Brevan Howard Capital Management LP increased its stake in shares of Horizon Technology Finance by 15.1% during the fourth quarter. Brevan Howard Capital Management LP now owns 16,093 shares of the investment management company’s stock valued at $145,000 after buying an additional 2,108 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in Horizon Technology Finance in the first quarter worth $36,000. Quantbot Technologies LP grew its stake in shares of Horizon Technology Finance by 43.0% in the fourth quarter. Quantbot Technologies LP now owns 13,290 shares of the investment management company’s stock worth $119,000 after acquiring an additional 3,996 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Horizon Technology Finance by 32.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,344 shares of the investment management company’s stock worth $237,000 after acquiring an additional 6,416 shares during the last quarter. Finally, ETF Store Inc. grew its stake in shares of Horizon Technology Finance by 16.6% in the first quarter. ETF Store Inc. now owns 55,348 shares of the investment management company’s stock worth $521,000 after acquiring an additional 7,877 shares during the last quarter. Institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Trading Down 0.8%

Shares of HRZN opened at $7.54 on Friday. The company has a market cap of $304.28 million, a price-to-earnings ratio of -62.83 and a beta of 1.01. Horizon Technology Finance has a 1-year low of $7.12 and a 1-year high of $12.63. The company’s fifty day simple moving average is $7.83 and its 200 day simple moving average is $8.79.

Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Tuesday, April 29th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The business had revenue of $24.52 million during the quarter, compared to the consensus estimate of $26.67 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. As a group, research analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a $0.11 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.32 dividend on an annualized basis and a yield of 17.51%. Horizon Technology Finance’s payout ratio is -145.05%.

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, cleantech and sustainability industries.