Horizon Technology Finance (NASDAQ:HRZN) Lifted to Buy at Zacks Investment Research


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Horizon Technology Finance (NASDAQ:HRZN) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage currently has a $18.00 target price on the investment management company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.80% from the stock’s previous close.

According to Zacks, “Horizon Technology Finance Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company makes secured loans to development-stage companies in the technology, life science, healthcare information and services, and cleantech industries. Horizon Technology Finance Corporation is headquartered in Farmington, United States of America. “

A number of other research analysts have also recently commented on HRZN. Maxim Group reissued a “buy” rating and issued a $13.50 price target on shares of Horizon Technology Finance in a report on Friday, January 29th. Compass Point cut Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $9.50 price target on the stock. in a report on Thursday, January 14th. Oppenheimer initiated coverage on Horizon Technology Finance in a report on Thursday, March 25th. They issued a “market perform” rating on the stock. Finally, B. Riley boosted their price target on Horizon Technology Finance from $11.50 to $14.50 and gave the stock a “neutral” rating in a report on Thursday, April 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Horizon Technology Finance presently has an average rating of “Hold” and an average target price of $13.88.

Shares of NASDAQ:HRZN traded down $0.36 during mid-day trading on Tuesday, reaching $16.10. 297,418 shares of the company traded hands, compared to its average volume of 214,605. The company’s 50 day moving average price is $15.39 and its 200-day moving average price is $13.67. The firm has a market cap of $316.51 million, a PE ratio of 23.33 and a beta of 1.10. Horizon Technology Finance has a 52 week low of $8.75 and a 52 week high of $17.56.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, April 27th. The investment management company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. Horizon Technology Finance had a return on equity of 11.89% and a net margin of 21.85%. On average, analysts forecast that Horizon Technology Finance will post 1.28 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC purchased a new stake in shares of Horizon Technology Finance during the 4th quarter worth approximately $167,000. Parisi Gray Wealth Management raised its holdings in Horizon Technology Finance by 107.5% during the 4th quarter. Parisi Gray Wealth Management now owns 22,000 shares of the investment management company’s stock valued at $291,000 after buying an additional 11,400 shares during the period. LPL Financial LLC purchased a new stake in Horizon Technology Finance during the 4th quarter valued at $163,000. Sheaff Brock Investment Advisors LLC raised its holdings in Horizon Technology Finance by 9.5% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 11,498 shares of the investment management company’s stock valued at $152,000 after buying an additional 1,000 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Horizon Technology Finance by 56.9% during the 4th quarter. Wells Fargo & Company MN now owns 34,118 shares of the investment management company’s stock valued at $452,000 after buying an additional 12,379 shares during the period. 7.06% of the stock is currently owned by institutional investors and hedge funds.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries.

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