Horizon Technology Finance Co. (NASDAQ:HRZN) Receives $8.45 Consensus Price Target from Brokerages

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

A number of equities research analysts recently issued reports on the company. B. Riley assumed coverage on Horizon Technology Finance in a research note on Tuesday, May 13th. They set a “neutral” rating and a $7.00 price target for the company. Keefe, Bruyette & Woods reduced their price target on 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 target on 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 dropped their target price on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Wall Street Zen downgraded Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th.

Hedge Funds Weigh In On Horizon Technology Finance

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. N.E.W. Advisory Services LLC acquired a new stake in Horizon Technology Finance in the 1st quarter valued at about $36,000. Crew Capital Management Ltd. acquired a new position in Horizon Technology Finance during the fourth quarter worth approximately $99,000. Quantbot Technologies LP grew its stake in shares of Horizon Technology Finance by 43.0% in the 4th quarter. Quantbot Technologies LP now owns 13,290 shares of the investment management company’s stock valued at $119,000 after purchasing an additional 3,996 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Horizon Technology Finance in the 4th quarter valued at approximately $124,000. Finally, Aigen Investment Management LP purchased a new position in shares of Horizon Technology Finance in the 4th quarter valued at approximately $133,000. 4.94% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Technology Finance Stock Down 0.8%

NASDAQ HRZN opened at $7.54 on Friday. The stock’s 50-day moving average price is $7.83 and its 200-day moving average price is $8.79. Horizon Technology Finance has a 52 week low of $7.12 and a 52 week high of $12.63. The company has a market capitalization of $304.28 million, a P/E ratio of -62.83 and a beta of 1.01.

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

Horizon Technology Finance Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 17.51%. The ex-dividend date of this dividend is Monday, June 16th. Horizon Technology Finance’s dividend payout ratio is presently -145.05%.

Horizon Technology Finance Company Profile

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.