Horizon Technology Finance Corporation (NASDAQ:HRZN) Given Average Rating of “Reduce” by Analysts

Horizon Technology Finance Corporation (NASDAQ:HRZN) has earned an average rating of “Reduce” from the seven analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $6.20.

A number of equities analysts have recently issued reports on HRZN shares. B. Riley Financial dropped their price objective on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a research note on Friday, March 6th. Keefe, Bruyette & Woods upgraded 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, March 5th. Wall Street Zen downgraded shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Technology Finance in a research report on Thursday, January 22nd. Finally, UBS Group lifted their price objective on shares of Horizon Technology Finance from $6.25 to $6.50 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC raised its stake in Horizon Technology Finance by 100.0% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock valued at $26,000 after buying an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in Horizon Technology Finance during the 2nd quarter worth approximately $60,000. Nations Financial Group Inc. IA ADV acquired a new position in Horizon Technology Finance during the 4th quarter valued at approximately $67,000. Allworth Financial LP purchased a new position in shares of Horizon Technology Finance in the second quarter worth $73,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Horizon Technology Finance in the second quarter worth $77,000. 4.94% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Technology Finance Price Performance

NASDAQ:HRZN opened at $4.10 on Friday. Horizon Technology Finance has a 1-year low of $3.97 and a 1-year high of $9.52. The company has a 50-day moving average of $6.19 and a 200 day moving average of $6.37. The firm has a market cap of $196.02 million, a PE ratio of -25.63 and a beta of 0.97.

Horizon Technology Finance (NASDAQ:HRZN) last posted its 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 negative net margin of 2.77% and a positive return on equity of 14.52%. The business had revenue of $0.58 million for the quarter, compared to analysts’ expectations of $25.64 million. Sell-side analysts anticipate that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, May 18th. This represents a c) dividend on an annualized basis and a dividend yield of 17.6%. Horizon Technology Finance’s dividend payout ratio is presently -825.00%.

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.