Horizon Technology Finance (NASDAQ:HRZN) Cut to “Sell” at Compass Point

Compass Point cut shares of Horizon Technology Finance (NASDAQ:HRZN) from a neutral rating to a sell rating in a research note published on Wednesday, Marketbeat.com reports. They currently have $6.50 price target on the investment management company’s stock.

A number of other equities research analysts also recently weighed in on HRZN. UBS Group lowered their target price on Horizon Technology Finance from $9.00 to $8.25 and set a “neutral” rating for the company in a report on Thursday, April 17th. Keefe, Bruyette & Woods dropped their target price on shares of Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating on the stock in a research report on Tuesday, April 8th. Maxim Group cut their target price on shares of 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, StockNews.com downgraded shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.85.

Horizon Technology Finance Stock Performance

Horizon Technology Finance stock opened at $7.38 on Wednesday. The firm has a 50 day moving average price of $8.82 and a two-hundred day moving average price of $9.20. Horizon Technology Finance has a 52-week low of $7.12 and a 52-week high of $12.63. The firm has a market cap of $297.65 million, a price-to-earnings ratio of -61.50 and a beta of 1.08.

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

Horizon Technology Finance Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, August 18th. This represents a $1.32 dividend on an annualized basis and a yield of 17.89%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -145.05%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Brevan Howard Capital Management LP raised its holdings in shares of Horizon Technology Finance by 15.1% in the 4th quarter. Brevan Howard Capital Management LP now owns 16,093 shares of the investment management company’s stock worth $145,000 after acquiring an additional 2,108 shares during the last quarter. First Financial Bank Trust Division increased its holdings in Horizon Technology Finance by 5.0% during the 4th quarter. First Financial Bank Trust Division now owns 45,725 shares of the investment management company’s stock worth $411,000 after purchasing an additional 2,173 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Horizon Technology Finance by 43.0% in the fourth 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 in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Horizon Technology Finance by 32.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 26,344 shares of the investment management company’s stock valued at $237,000 after buying an additional 6,416 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in Horizon Technology Finance during the third quarter worth $117,000. 4.94% of the stock is owned by institutional investors.

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.