Horizon Technology Finance (NASDAQ:HRZN) Stock Passes Above 200-Day Moving Average – Should You Sell?

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.70 and traded as high as $6.72. Horizon Technology Finance shares last traded at $6.66, with a volume of 904,705 shares.

Analysts Set New Price Targets

A number of brokerages have issued reports on HRZN. Wall Street Zen raised shares of Horizon Technology Finance from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. UBS Group boosted their price target on shares of Horizon Technology Finance from $6.25 to $6.50 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Horizon Technology Finance presently has an average rating of “Reduce” and a consensus price target of $7.00.

Horizon Technology Finance Stock Down 0.9%

The stock’s fifty day simple moving average is $6.59 and its two-hundred day simple moving average is $6.70. The firm has a market cap of $308.49 million, a PE ratio of -9.94 and a beta of 0.98.

Institutional Investors Weigh In On Horizon Technology Finance

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in shares of Horizon Technology Finance in the 2nd quarter worth about $411,000. Green Alpha Advisors LLC increased its stake in Horizon Technology Finance by 8.1% during the 2nd quarter. Green Alpha Advisors LLC now owns 387,726 shares of the investment management company’s stock valued at $2,792,000 after purchasing an additional 28,984 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Horizon Technology Finance in the second quarter worth about $77,000. Allworth Financial LP bought a new position in shares of Horizon Technology Finance in the second quarter worth approximately $73,000. Finally, Virtus Investment Advisers LLC lifted its stake in shares of Horizon Technology Finance by 25.6% in the second quarter. Virtus Investment Advisers LLC now owns 177,768 shares of the investment management company’s stock worth $1,280,000 after buying an additional 36,226 shares in the last quarter. 4.94% of the stock is owned by hedge funds and other institutional investors.

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.