Horizon Technology Finance (NASDAQ:HRZN) Lowered to Sell at Compass Point


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Horizon Technology Finance (NASDAQ:HRZN) was downgraded by equities research analysts at Compass Point from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Thursday, The Fly reports. They presently have a $9.50 price target on the investment management company’s stock. Compass Point’s price target points to a potential downside of 30.61% from the company’s previous close.

HRZN has been the topic of several other research reports. B. Riley restated a “neutral” rating on shares of Horizon Technology Finance in a report on Tuesday, November 24th. National Securities assumed coverage on Horizon Technology Finance in a research note on Wednesday, September 23rd. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research downgraded shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Tuesday, January 5th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $10.67.

Shares of HRZN stock opened at $13.69 on Thursday. The company has a market capitalization of $251.46 million, a price-to-earnings ratio of 19.84 and a beta of 1.10. The firm has a 50-day moving average price of $13.04 and a 200 day moving average price of $12.21. Horizon Technology Finance has a twelve month low of $4.51 and a twelve month high of $13.78.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Sunday, November 8th. The investment management company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. Horizon Technology Finance had a net margin of 21.85% and a return on equity of 11.89%. The business had revenue of $12.33 million during the quarter, compared to analyst estimates of $11.86 million. On average, sell-side analysts predict that Horizon Technology Finance will post 1.28 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Marshall Wace North America L.P. purchased a new position in shares of Horizon Technology Finance in the 1st quarter worth about $62,000. Commonwealth Equity Services LLC purchased a new stake in shares of Horizon Technology Finance during the 2nd quarter worth about $138,000. Raymond James & Associates increased its position in Horizon Technology Finance by 7.6% during the 3rd quarter. Raymond James & Associates now owns 15,639 shares of the investment management company’s stock worth $192,000 after purchasing an additional 1,102 shares in the last quarter. California Public Employees Retirement System raised its holdings in Horizon Technology Finance by 61.4% in the second quarter. California Public Employees Retirement System now owns 33,900 shares of the investment management company’s stock valued at $370,000 after buying an additional 12,900 shares during the period. Finally, Morgan Stanley lifted its position in Horizon Technology Finance by 82.0% during the third quarter. Morgan Stanley now owns 42,650 shares of the investment management company’s stock valued at $524,000 after buying an additional 19,222 shares in the last quarter. Institutional investors own 6.84% of the company’s stock.

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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Analyst Recommendations for Horizon Technology Finance (NASDAQ:HRZN)

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