UBS Group Issues Positive Forecast for Horizon Technology Finance (NASDAQ:HRZN) Stock Price

Horizon Technology Finance (NASDAQ:HRZN) had its price target lifted by analysts at UBS Group from $6.25 to $6.50 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the investment management company’s stock. UBS Group’s target price would suggest a potential downside of 0.84% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Wednesday, October 8th. Maxim Group lowered their target price on shares of Horizon Technology Finance from $10.00 to $7.50 and set a “buy” rating on the stock in a research note on Monday, August 11th. Finally, Wall Street Zen upgraded shares of Horizon Technology Finance from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $7.00.

Horizon Technology Finance Stock Performance

Shares of Horizon Technology Finance stock traded up $0.11 during trading hours on Wednesday, reaching $6.56. The company’s stock had a trading volume of 75,656 shares, compared to its average volume of 536,904. Horizon Technology Finance has a one year low of $5.70 and a one year high of $9.99. The company’s 50 day simple moving average is $6.34 and its 200 day simple moving average is $7.07. The stock has a market cap of $290.93 million, a P/E ratio of -9.80 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. Horizon Technology Finance had a negative net margin of 24.19% and a positive return on equity of 15.01%. The firm had revenue of $26.32 million for the quarter, compared to analyst estimates of $22.99 million. On average, sell-side analysts predict that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co increased its stake in Horizon Technology Finance by 23.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 53,430 shares of the investment management company’s stock worth $321,000 after purchasing an additional 10,162 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Horizon Technology Finance during the third quarter valued at $1,099,000. Brevan Howard Capital Management LP acquired a new position in Horizon Technology Finance during the third quarter valued at $245,000. Aquatic Capital Management LLC purchased a new stake in Horizon Technology Finance in the 3rd quarter worth about $395,000. Finally, Virtu Financial LLC acquired a new stake in Horizon Technology Finance during the 3rd quarter worth about $119,000. 4.94% of the stock is owned by institutional investors and hedge funds.

About Horizon Technology Finance

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, cleantech and sustainability industries.