Horizon Technology Finance (NASDAQ:HRZN) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Horizon Technology Finance (NASDAQ:HRZN) from an underperform rating to a market perform rating in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. They currently have $5.00 target price on the investment management company’s stock.

HRZN has been the topic of several other reports. UBS Group increased their target price on shares of Horizon Technology Finance from $6.25 to $6.50 and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $6.20.

Horizon Technology Finance Price Performance

HRZN opened at $4.20 on Thursday. The firm has a fifty day moving average price of $6.41 and a 200 day moving average price of $6.47. Horizon Technology Finance has a 1 year low of $4.16 and a 1 year high of $9.52. The stock has a market cap of $200.80 million, a P/E ratio of -26.25 and a beta of 0.97.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings results on Tuesday, March 3rd. The investment management company reported $0.18 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $25.64 million. Equities analysts expect that Horizon Technology Finance will post 1.38 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, May 18th will be issued a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 17.1%. The ex-dividend date of this dividend is Monday, May 18th. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -825.00%.

Institutional Trading of Horizon Technology Finance

Institutional investors and hedge funds have recently modified their holdings of the stock. N.E.W. Advisory Services LLC increased its stake in shares of Horizon Technology Finance by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock worth $26,000 after purchasing an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Horizon Technology Finance in the 2nd quarter valued at about $60,000. Nations Financial Group Inc. IA ADV acquired a new stake in Horizon Technology Finance in the 4th quarter worth about $67,000. Allworth Financial LP acquired a new stake in Horizon Technology Finance in the 2nd quarter worth about $73,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Horizon Technology Finance during the 2nd quarter worth approximately $77,000. Hedge funds and other institutional investors 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.