Horizon Technology Finance (NASDAQ:HRZN) Given New $6.00 Price Target at Oppenheimer

Horizon Technology Finance (NASDAQ:HRZN) had its price target reduced by Oppenheimer from $7.00 to $6.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a market perform rating on the investment management company’s stock.

Several other equities research analysts have also recently issued reports on the company. Zacks Research cut Horizon Technology Finance from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. 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 note on Thursday, March 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Technology Finance in a report on Thursday, January 22nd. B. Riley Financial cut their price objective on Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a research report on Friday, March 6th. Finally, Wall Street Zen lowered shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $6.17.

Horizon Technology Finance Price Performance

Horizon Technology Finance stock opened at $4.21 on Tuesday. The firm has a 50 day simple moving average of $5.85 and a 200-day simple moving average of $6.24. The stock has a market cap of $201.28 million, a price-to-earnings ratio of -26.31 and a beta of 0.97. Horizon Technology Finance has a 1-year low of $3.97 and a 1-year high of $9.52.

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 analysts’ expectations of $25.64 million. Equities analysts expect that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Monday, May 18th will be given a dividend of $0.06 per share. This represents a c) annualized dividend and a dividend yield of 17.1%. The ex-dividend date is Monday, May 18th. Horizon Technology Finance’s dividend payout ratio (DPR) is currently -450.00%.

Institutional Investors Weigh In On Horizon Technology Finance

Institutional investors and hedge funds have recently modified their holdings of the company. Virtus Investment Advisers LLC lifted its stake 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 worth $1,280,000 after acquiring an additional 36,226 shares in the last quarter. Quantbot Technologies LP grew its position in Horizon Technology Finance by 300.7% in the 2nd quarter. Quantbot Technologies LP now owns 17,332 shares of the investment management company’s stock valued at $125,000 after acquiring an additional 13,007 shares in the last quarter. Marshall Wace LLP acquired a new position in Horizon Technology Finance in the 2nd quarter valued at about $103,000. BNP Paribas Financial Markets purchased a new stake in Horizon Technology Finance during the second quarter worth about $122,000. Finally, Oxford Asset Management LLP purchased a new stake in Horizon Technology Finance during the second quarter worth about $285,000. Hedge funds and other 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.