Horizon Technology Finance (NASDAQ:HRZN) Upgraded at Wall Street Zen

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

Several other brokerages also recently weighed in on HRZN. UBS Group reduced their target price on Horizon Technology Finance from $7.00 to $6.25 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Wednesday, October 8th. Finally, Maxim Group lowered their price target on Horizon Technology Finance from $10.00 to $7.50 and set a “buy” rating on the stock in a research note on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $6.95.

Horizon Technology Finance Price Performance

Shares of HRZN stock opened at $6.66 on Friday. The company has a market cap of $295.59 million, a price-to-earnings ratio of -9.94 and a beta of 1.00. The stock has a 50 day simple moving average of $6.41 and a 200-day simple moving average of $7.20. Horizon Technology Finance has a 1-year low of $5.70 and a 1-year high of $9.99.

Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Tuesday, October 28th. The investment management company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The business had revenue of $26.32 million during the quarter, compared to the consensus estimate of $22.99 million. Horizon Technology Finance had a positive return on equity of 15.01% and a negative net margin of 24.19%. Analysts anticipate that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The firm also recently declared 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. This represents a c) annualized dividend and a dividend yield of 19.8%. The ex-dividend date of this dividend is Tuesday, February 17th. Horizon Technology Finance’s dividend payout ratio is -197.01%.

Hedge Funds Weigh In On Horizon Technology Finance

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in shares of Horizon Technology Finance in the 2nd quarter valued at $411,000. N.E.W. Advisory Services LLC acquired a new position in shares of Horizon Technology Finance in the 1st quarter valued at $36,000. Cetera Investment Advisers lifted its stake in shares of Horizon Technology Finance by 20.2% in the 1st 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. ETF Store Inc. lifted its stake in shares of Horizon Technology Finance by 16.6% in the 1st quarter. ETF Store Inc. now owns 55,348 shares of the investment management company’s stock valued at $521,000 after purchasing an additional 7,877 shares during the last quarter. Finally, Green Alpha Advisors LLC lifted its stake in shares of Horizon Technology Finance by 8.1% in the 2nd quarter. Green Alpha Advisors LLC now owns 387,726 shares of the investment management company’s stock valued at $2,792,000 after purchasing an additional 28,984 shares during the last quarter. Institutional investors and hedge funds 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.