Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives Average Recommendation of “Reduce” from Analysts

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have earned a consensus recommendation of “Reduce” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $7.00.

Several research analysts have recently commented on HRZN shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a report on Thursday, January 22nd. UBS Group increased their target price on Horizon Technology Finance from $6.25 to $6.50 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Finally, Wall Street Zen raised Horizon Technology Finance from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st.

Horizon Technology Finance Trading Up 1.1%

NASDAQ:HRZN opened at $6.55 on Wednesday. The stock has a 50 day simple moving average of $6.58 and a 200 day simple moving average of $6.64. The stock has a market cap of $303.42 million, a P/E ratio of -9.78 and a beta of 0.98. Horizon Technology Finance has a 1-year low of $5.70 and a 1-year high of $9.99.

Institutional Trading of Horizon Technology Finance

Several large investors have recently made changes to their positions in HRZN. International Assets Investment Management LLC acquired a new position in shares of Horizon Technology Finance during the second quarter worth $411,000. Green Alpha Advisors LLC raised its position 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 worth $2,792,000 after purchasing an additional 28,984 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Horizon Technology Finance during the 2nd quarter worth about $77,000. Allworth Financial LP bought a new stake in shares of Horizon Technology Finance in the 2nd quarter valued at about $73,000. Finally, Virtus Investment Advisers LLC increased its position in Horizon Technology Finance by 25.6% during the 2nd quarter. Virtus Investment Advisers LLC now owns 177,768 shares of the investment management company’s stock valued at $1,280,000 after purchasing an additional 36,226 shares during the period. Institutional investors and hedge funds own 4.94% of the company’s stock.

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.