Oppenheimer Cuts Horizon Technology Finance (NASDAQ:HRZN) Price Target to $6.00

Horizon Technology Finance (NASDAQ:HRZN) had its target price reduced by Oppenheimer from $7.00 to $6.00 in a report released on Tuesday morning,Benzinga reports. They currently have a market perform rating on the investment management company’s stock.

Several other research firms have also commented on HRZN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a research report on Thursday, January 22nd. Zacks Research downgraded Horizon Technology Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Wall Street Zen cut shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. B. Riley Financial reduced their price target on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a research report on Friday, March 6th. Finally, Keefe, Bruyette & Woods upgraded shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price target for the company in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $6.17.

Horizon Technology Finance Price Performance

HRZN opened at $4.30 on Tuesday. Horizon Technology Finance has a 12 month low of $3.97 and a 12 month high of $9.52. The stock has a market capitalization of $205.58 million, a price-to-earnings ratio of -26.88 and a beta of 0.97. The business has a fifty day moving average price of $5.76 and a 200 day moving average price of $6.21.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, March 3rd. The investment management company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). The firm had revenue of $0.58 million during the quarter, compared to analysts’ expectations of $25.64 million. Horizon Technology Finance had a negative net margin of 2.77% and a positive return on equity of 14.52%. On average, research analysts anticipate that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Horizon Technology Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 16th. Investors of record on Monday, May 18th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a c) dividend on an annualized basis and a yield of 16.7%. Horizon Technology Finance’s payout ratio is currently -450.00%.

Institutional Trading of Horizon Technology Finance

Institutional investors have recently bought and sold shares of the company. N.E.W. Advisory Services LLC lifted its holdings in shares of Horizon Technology Finance by 100.0% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Horizon Technology Finance during the 2nd quarter worth approximately $60,000. Nations Financial Group Inc. IA ADV acquired a new position in shares of Horizon Technology Finance during the 4th quarter worth approximately $67,000. HRT Financial LP acquired a new position in shares of Horizon Technology Finance during the 4th quarter worth approximately $77,000. Finally, Marshall Wace LLP purchased a new stake in Horizon Technology Finance in the 2nd quarter valued at approximately $103,000. 4.94% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Technology Finance Company Profile

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.