Horizon Technology Finance (NASDAQ:HRZN) Cut to “Hold” at Wall Street Zen

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

Other analysts have also recently issued reports about the stock. B. Riley Financial dropped their target price on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a report on Friday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a report on Thursday, January 22nd. Keefe, Bruyette & Woods upgraded shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price objective on the stock in a research note on Thursday, March 5th. Finally, UBS Group raised their target price on shares of Horizon Technology Finance from $6.25 to $6.50 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $6.20.

Horizon Technology Finance Stock Down 0.5%

NASDAQ:HRZN opened at $4.18 on Friday. The business’s 50 day moving average is $6.37 and its two-hundred day moving average is $6.45. Horizon Technology Finance has a 52 week low of $3.97 and a 52 week high of $9.52. The company has a market cap of $199.85 million, a PE ratio of -26.13 and a beta of 0.97.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, March 3rd. The investment management company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.12). The firm had revenue of $0.58 million during the quarter, compared to analyst estimates of $25.64 million. Horizon Technology Finance had a positive return on equity of 14.52% and a negative net margin of 2.77%. As a group, sell-side analysts expect that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, May 18th will be given a $0.06 dividend. The ex-dividend date is Monday, May 18th. This represents a c) annualized dividend and a yield of 17.2%. Horizon Technology Finance’s dividend payout ratio is -825.00%.

Institutional Investors Weigh In On Horizon Technology Finance

A number of hedge funds have recently made changes to their positions in HRZN. Eagle Point Credit Management LLC acquired a new position in shares of Horizon Technology Finance during the fourth quarter worth approximately $2,385,000. Millennium Management LLC bought a new position in Horizon Technology Finance in the 3rd quarter worth approximately $1,099,000. Green Alpha Advisors LLC increased 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 acquiring an additional 112,303 shares during the period. Magnetar Financial LLC bought a new stake in Horizon Technology Finance during the 3rd quarter valued at $435,000. Finally, Aquatic Capital Management LLC bought a new stake in Horizon Technology Finance during the 3rd quarter valued at $395,000. Institutional investors own 4.94% of the company’s stock.

About Horizon Technology Finance

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.