Horizon Technology Finance (NASDAQ:HRZN) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Horizon Technology Finance (NASDAQ:HRZN) from a hold rating to a buy rating in a research report report published on Saturday.

HRZN has been the topic of several other research reports. UBS Group cut their price target on Horizon Technology Finance from $7.00 to $6.25 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Maxim Group lowered their target price on Horizon Technology Finance from $10.00 to $7.50 and set a “buy” rating on the stock in a research report on Monday, August 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Technology Finance in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $6.95.

Horizon Technology Finance Trading Down 1.7%

HRZN opened at $6.48 on Friday. The company has a fifty day moving average price of $6.41 and a two-hundred day moving average price of $7.22. Horizon Technology Finance has a 1-year low of $5.70 and a 1-year high of $9.99. The company has a market cap of $275.72 million, a P/E ratio of -9.67 and a beta of 1.00.

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

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, February 17th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a c) annualized dividend and a dividend yield of 20.4%. Horizon Technology Finance’s dividend payout ratio is -197.01%.

Institutional Investors Weigh In On Horizon Technology Finance

Institutional investors have recently bought and sold shares of the stock. Green Alpha Advisors LLC raised its position in Horizon Technology Finance by 29.0% in the 3rd quarter. Green Alpha Advisors LLC now owns 500,029 shares of the investment management company’s stock valued at $3,050,000 after buying an additional 112,303 shares during the last quarter. Virtus Investment Advisers LLC grew its stake in shares of Horizon Technology Finance by 25.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 177,768 shares of the investment management company’s stock worth $1,280,000 after acquiring an additional 36,226 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Horizon Technology Finance by 20.2% in the first quarter. Cetera Investment Advisers now owns 63,008 shares of the investment management company’s stock valued at $594,000 after purchasing an additional 10,603 shares during the last quarter. International Assets Investment Management LLC lifted its position 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. Finally, ETF Store Inc. boosted its holdings in Horizon Technology Finance by 16.6% during the first quarter. ETF Store Inc. now owns 55,348 shares of the investment management company’s stock worth $521,000 after purchasing an additional 7,877 shares during the last quarter. Institutional investors own 4.94% of the company’s stock.

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.