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

Horizon Technology Finance Corporation (NASDAQ:HRZN)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.59 and traded as high as $6.59. Horizon Technology Finance shares last traded at $6.45, with a volume of 996,780 shares.

Analysts Set New Price Targets

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

Horizon Technology Finance Price Performance

The stock has a market capitalization of $298.76 million, a PE ratio of -9.63 and a beta of 0.98. The firm’s 50 day simple moving average is $6.56 and its 200 day simple moving average is $6.59.

Institutional Investors Weigh In On Horizon Technology Finance

A number of hedge funds and other institutional investors have recently modified their holdings of HRZN. N.E.W. Advisory Services LLC grew its position in Horizon Technology Finance by 100.0% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock worth $26,000 after acquiring an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Horizon Technology Finance during the second quarter valued at approximately $60,000. Allworth Financial LP bought a new position in shares of Horizon Technology Finance in the second quarter worth approximately $73,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Horizon Technology Finance in the fourth quarter worth $67,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Horizon Technology Finance during the 2nd quarter valued at $77,000. Institutional investors own 4.94% of the company’s stock.

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.