Horizon Technology Finance (NASDAQ:HRZN) Cut to “Hold” at Wall Street Zen

Horizon Technology Finance (NASDAQ:HRZN) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also weighed in on HRZN. Keefe, Bruyette & Woods raised shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 target price on the stock in a research note on Thursday. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Thursday, January 22nd. B. Riley Financial lowered their price objective on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a report on Friday. Finally, UBS Group lifted their price objective on Horizon Technology Finance from $6.25 to $6.50 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $6.20.

Horizon Technology Finance Stock Performance

HRZN opened at $4.20 on Friday. The stock has a market capitalization of $200.80 million, a PE ratio of -26.25 and a beta of 0.97. The stock’s 50 day moving average price is $6.41 and its 200-day moving average price is $6.47. Horizon Technology Finance has a 52-week low of $4.16 and a 52-week high of $9.52.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, March 3rd. The investment management company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). Horizon Technology Finance had a positive return on equity of 14.52% and a negative net margin of 2.77%.The business had revenue of $0.58 million during the quarter, compared to analysts’ expectations of $25.64 million. Research analysts forecast that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Horizon Technology Finance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd bought a new stake in shares of Horizon Technology Finance in the 2nd quarter worth $77,000. Allworth Financial LP bought a new position in shares of Horizon Technology Finance during the second quarter valued at $73,000. Virtus Investment Advisers LLC boosted its position in shares of Horizon Technology Finance by 25.6% during the second quarter. Virtus Investment Advisers LLC now owns 177,768 shares of the investment management company’s stock valued at $1,280,000 after buying an additional 36,226 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of Horizon Technology Finance by 300.7% during the second quarter. Quantbot Technologies LP now owns 17,332 shares of the investment management company’s stock valued at $125,000 after buying an additional 13,007 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Horizon Technology Finance in the 2nd quarter worth about $103,000. 4.94% of the stock is owned by institutional investors.

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.