Horizon Technology Finance (NASDAQ:HRZN) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Horizon Technology Finance Corporation (NASDAQ:HRZN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.70 and traded as high as $6.72. Horizon Technology Finance shares last traded at $6.66, with a volume of 904,705 shares changing hands.

Wall Street Analysts Forecast Growth

HRZN has been the topic of several recent analyst reports. Wall Street Zen upgraded Horizon Technology Finance from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. UBS Group upped their price target on Horizon Technology Finance from $6.25 to $6.50 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Technology Finance in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $7.00.

Horizon Technology Finance Stock Performance

The stock has a market capitalization of $308.49 million, a P/E ratio of -9.94 and a beta of 0.98. The firm has a fifty day moving average price of $6.59 and a two-hundred day moving average price of $6.70.

Institutional Investors Weigh In On Horizon Technology Finance

A number of large investors have recently made changes to their positions in the company. N.E.W. Advisory Services LLC increased its position in shares of Horizon Technology Finance by 100.0% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Horizon Technology Finance during the second quarter valued at approximately $60,000. Allworth Financial LP purchased a new stake in Horizon Technology Finance during the second quarter valued at approximately $73,000. Nations Financial Group Inc. IA ADV bought a new position in Horizon Technology Finance in the fourth quarter worth approximately $67,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Horizon Technology Finance in the second quarter worth approximately $77,000. 4.94% of the stock is currently owned by institutional investors.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.