Horizon Technology Finance (NASDAQ:HRZN) Stock Price Crosses Above 200 Day Moving Average of $12.13

Horizon Technology Finance Co. (NASDAQ:HRZN) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.13 and traded as high as $12.13. Horizon Technology Finance shares last traded at $12.13, with a volume of 139,803 shares changing hands.

Analysts Set New Price Targets

HRZN has been the topic of a number of recent research reports. Compass Point cut shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $10.00 price objective for the company. in a research note on Tuesday, October 17th. Oppenheimer reaffirmed a “market perform” rating and issued a $12.00 price objective on shares of Horizon Technology Finance in a report on Thursday, August 3rd. StockNews.com began coverage on Horizon Technology Finance in a research note on Thursday, October 5th. They issued a “sell” rating for the company. Finally, TheStreet lowered shares of Horizon Technology Finance from a “b-” rating to a “c” rating in a report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.25.

Horizon Technology Finance Stock Performance

The stock has a market capitalization of $404.29 million, a price-to-earnings ratio of -606.20 and a beta of 1.17. The company has a fifty day simple moving average of $11.82 and a 200 day simple moving average of $12.13.

Horizon Technology Finance Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 16th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.32 annualized dividend and a yield of 10.88%. Horizon Technology Finance’s payout ratio is -6,596.70%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. bought a new stake in shares of Horizon Technology Finance in the 1st quarter valued at $28,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of Horizon Technology Finance by 25,158.3% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 3,031 shares of the investment management company’s stock worth $33,000 after purchasing an additional 3,019 shares in the last quarter. JPMorgan Chase & Co. grew its position in Horizon Technology Finance by 86.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,969 shares of the investment management company’s stock valued at $46,000 after purchasing an additional 1,841 shares during the period. BNP Paribas Arbitrage SNC bought a new stake in Horizon Technology Finance during the 3rd quarter valued at $52,000. Finally, AXS Investments LLC acquired a new position in Horizon Technology Finance during the first quarter worth $59,000. 5.07% 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.