Horizon Technology Finance (NASDAQ:HRZN) Price Target Lowered to $4.50 at Keefe, Bruyette & Woods

Horizon Technology Finance (NASDAQ:HRZN) had its price objective dropped by analysts at Keefe, Bruyette & Woods from $5.00 to $4.50 in a research note issued on Friday,Benzinga reports. The firm presently has a “market perform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential downside of 5.46% from the stock’s previous close.

Several other equities analysts have also commented on HRZN. UBS Group dropped their target price on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a research note on Monday, May 18th. Oppenheimer dropped their price objective on shares of Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Friday, August 7th. Weiss Ratings lowered shares of Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday. Finally, Zacks Research raised shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $4.81.

Horizon Technology Finance Stock Down 3.3%

Shares of HRZN traded down $0.16 during trading hours on Friday, reaching $4.76. 464,710 shares of the company traded hands, compared to its average volume of 912,220. The stock has a market capitalization of $319.06 million, a PE ratio of 13.22 and a beta of 0.98. The stock has a fifty day simple moving average of $4.58 and a 200 day simple moving average of $4.73. Horizon Technology Finance has a fifty-two week low of $3.80 and a fifty-two week high of $7.07.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings results on Tuesday, August 4th. The investment management company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%.The firm had revenue of ($44.66) million for the quarter, compared to analyst estimates of $25.22 million. Research analysts predict that Horizon Technology Finance will post 0.63 EPS for the current fiscal year.

Insider Transactions at Horizon Technology Finance

In other news, Director Jonathan Joseph Goodman bought 6,000 shares of Horizon Technology Finance stock in a transaction on Tuesday, June 9th. The stock was purchased at an average cost of $4.33 per share, with a total value of $25,980.00. Following the purchase, the director directly owned 8,312 shares of the company’s stock, valued at approximately $35,990.96. This trade represents a 259.52% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas J. Allison acquired 6,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $4.36 per share, with a total value of $26,160.00. Following the completion of the acquisition, the director directly owned 55,926 shares of the company’s stock, valued at approximately $243,837.36. This represents a 12.02% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 134,977 shares of company stock valued at $585,975 over the last ninety days. Insiders own 0.29% of the company’s stock.

Institutional Trading of Horizon Technology Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in HRZN. N.E.W. Advisory Services LLC grew 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 worth $26,000 after purchasing an additional 2,000 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Horizon Technology Finance by 20.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 43,268 shares of the investment management company’s stock valued at $312,000 after buying an additional 7,197 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Horizon Technology Finance during the 2nd quarter valued at about $60,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Horizon Technology Finance in the second quarter worth approximately $54,000. Finally, Sanctuary Advisors LLC purchased a new stake in Horizon Technology Finance in the first quarter valued at $50,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

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.