B. Riley Financial Has Lowered Expectations for Horizon Technology Finance (NASDAQ:HRZN) Stock Price

Horizon Technology Finance (NASDAQ:HRZN) had its price target reduced by equities researchers at B. Riley Financial from $7.00 to $5.50 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the investment management company’s stock. B. Riley Financial’s price target points to a potential upside of 30.95% from the company’s current price.

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

Horizon Technology Finance Stock Performance

Shares of NASDAQ:HRZN opened at $4.20 on Friday. The firm’s 50 day simple moving average is $6.41 and its 200-day simple moving average is $6.47. Horizon Technology Finance has a one year low of $4.16 and a one year high of $9.52. The firm has a market cap of $200.80 million, a PE ratio of -26.25 and a beta of 0.97.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Eagle Point Credit Management LLC bought a new position in shares of Horizon Technology Finance in the 4th quarter worth $2,385,000. Millennium Management LLC bought a new stake in Horizon Technology Finance during the third quarter valued at about $1,099,000. Green Alpha Advisors LLC boosted its position in Horizon Technology Finance by 29.0% during the third quarter. Green Alpha Advisors LLC now owns 500,029 shares of the investment management company’s stock valued at $3,050,000 after purchasing an additional 112,303 shares in the last quarter. Magnetar Financial LLC purchased a new position in Horizon Technology Finance in the third quarter valued at about $435,000. Finally, Aquatic Capital Management LLC purchased a new position in Horizon Technology Finance in the third quarter valued at about $395,000. 4.94% of the stock is currently owned by hedge funds and other 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.