Horizon Technology Finance Co. (NASDAQ:HRZN) Receives $8.85 Average Target Price from Brokerages

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been given an average rating of “Reduce” by the five analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $8.45.

A number of equities analysts have commented on HRZN shares. Compass Point lowered shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $6.50 price target on the stock. in a research report on Wednesday, April 30th. UBS Group reduced their price target on shares of Horizon Technology Finance from $9.00 to $8.25 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Keefe, Bruyette & Woods reduced their price target 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. B. Riley assumed coverage on shares of Horizon Technology Finance in a research report on Tuesday. They issued a “neutral” rating and a $7.00 price target on the stock. Finally, Maxim Group reduced their price target on shares of Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 10th.

Hedge Funds Weigh In On Horizon Technology Finance

A number of large investors have recently modified their holdings of the stock. Brevan Howard Capital Management LP lifted its position in shares of Horizon Technology Finance by 15.1% during the fourth quarter. Brevan Howard Capital Management LP now owns 16,093 shares of the investment management company’s stock worth $145,000 after purchasing an additional 2,108 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Horizon Technology Finance during the first quarter worth approximately $36,000. Quantbot Technologies LP raised its stake in shares of Horizon Technology Finance by 43.0% during the fourth quarter. Quantbot Technologies LP now owns 13,290 shares of the investment management company’s stock worth $119,000 after buying an additional 3,996 shares during the last quarter. Envestnet Asset Management Inc. raised its stake 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 worth $237,000 after buying an additional 6,416 shares during the last quarter. Finally, ETF Store Inc. raised its stake in shares of Horizon Technology Finance by 16.6% during the first quarter. ETF Store Inc. now owns 55,348 shares of the investment management company’s stock worth $521,000 after buying an additional 7,877 shares during the last quarter. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Horizon Technology Finance Stock Performance

Shares of Horizon Technology Finance stock opened at $7.55 on Monday. The firm’s 50-day simple moving average is $8.52 and its 200-day simple moving average is $9.05. Horizon Technology Finance has a twelve month low of $7.12 and a twelve month high of $12.63. The firm has a market cap of $304.68 million, a P/E ratio of -62.92 and a beta of 1.05.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, April 29th. The investment management company reported $0.27 earnings per share 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 business had revenue of $24.52 million for the quarter, compared to analyst estimates of $26.67 million. On average, equities analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Monday, August 18th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 17.48%. Horizon Technology Finance’s payout ratio is -145.05%.

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.