Horizon Technology Finance (NASDAQ:HRZN) Stock Price Target Cut by B. Riley Financial

Horizon Technology Finance (NASDAQ:HRZN) had its price objective dropped by research analysts at B. Riley Financial from $5.00 to $4.50 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the investment management company’s stock. B. Riley Financial‘s price objective would suggest a potential upside of 18.61% from the company’s previous close.

Several other research analysts have also commented on HRZN. Compass Point started coverage on Horizon Technology Finance in a research report on Thursday, August 27th. They issued a “buy” rating and a $5.50 price objective on the stock. UBS Group upped their target price on Horizon Technology Finance from $4.25 to $4.50 and gave the stock a “neutral” rating in a research report on Tuesday, September 1st. Weiss Ratings lowered Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 19th. Oppenheimer lowered their target price on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Friday, August 7th. Finally, Keefe, Bruyette & Woods dropped their target price on Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating on the stock in a report on Friday, August 21st. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.80.

Horizon Technology Finance Stock Down 2.0%

Shares of HRZN stock traded down $0.08 during mid-day trading on Tuesday, reaching $3.79. The company’s stock had a trading volume of 250,117 shares, compared to its average volume of 814,691. The company’s 50 day simple moving average is $4.44 and its 200-day simple moving average is $4.73. Horizon Technology Finance has a 12-month low of $3.70 and a 12-month high of $6.85. The firm has a market capitalization of $254.31 million, a PE ratio of -5.05 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Thursday, November 5th. The investment management company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Horizon Technology Finance had a net margin of 5.27% and a return on equity of 11.15%. The business had revenue of $24.06 million for the quarter, compared to analyst estimates of $25.12 million. As a group, research analysts anticipate that Horizon Technology Finance will post 0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Green Alpha Advisors LLC acquired a new stake in Horizon Technology Finance during the 2nd quarter valued at approximately $2,033,000. Legal & General Group Plc purchased a new position in shares of Horizon Technology Finance during the 2nd quarter valued at approximately $1,821,000. Bank of America Corp DE purchased a new position in shares of Horizon Technology Finance during the 2nd quarter valued at approximately $1,068,000. BlackRock Inc. acquired a new stake in Horizon Technology Finance in the second quarter valued at $856,000. Finally, Corient Private Wealth LP acquired a new stake in Horizon Technology Finance in the second quarter valued at $423,000. 4.94% of the stock is owned by hedge funds and other institutional investors.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a specialty finance company that has elected to be regulated as a business development company. It provides secured venture loans to development-stage companies backed by venture capital or private equity investors. The company primarily finances businesses in the technology, life sciences, healthcare information and sustainability sectors. Its lending solutions are designed to support needs such as product development, commercialization, acquisitions, working capital and other corporate purposes.