Horizon Technology Finance Corporation (NASDAQ:HRZN) Given Consensus Recommendation of “Reduce” by Brokerages

Horizon Technology Finance Corporation (NASDAQ:HRZN) has received a consensus recommendation of “Reduce” from the six brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $7.00.

Several equities research analysts recently commented on the company. Wall Street Zen upgraded Horizon Technology Finance from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. UBS Group increased their price target on Horizon Technology Finance from $6.25 to $6.50 and gave the stock 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 research note on Thursday, January 22nd.

Horizon Technology Finance Stock Up 1.1%

HRZN stock opened at $6.55 on Wednesday. The firm has a market cap of $303.42 million, a price-to-earnings ratio of -9.78 and a beta of 0.98. The company’s fifty day simple moving average is $6.58 and its 200 day simple moving average is $6.64. Horizon Technology Finance has a 12-month low of $5.70 and a 12-month high of $9.99.

Institutional Trading of Horizon Technology Finance

Several hedge funds have recently bought and sold shares of HRZN. N.E.W. Advisory Services LLC grew its position in Horizon Technology Finance by 100.0% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock worth $26,000 after purchasing an additional 2,000 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in shares of Horizon Technology Finance in the 4th quarter worth approximately $67,000. ETF Store Inc. increased its position in shares of Horizon Technology Finance by 5.3% during the fourth quarter. ETF Store Inc. now owns 60,873 shares of the investment management company’s stock valued at $393,000 after acquiring an additional 3,055 shares during the last quarter. Green Alpha Advisors LLC lifted its holdings in Horizon Technology Finance by 11.8% during the fourth quarter. Green Alpha Advisors LLC now owns 558,944 shares of the investment management company’s stock worth $3,605,000 after acquiring an additional 58,915 shares during the period. Finally, First Financial Bank Trust Division increased its position in shares of Horizon Technology Finance by 43.4% during the 4th quarter. First Financial Bank Trust Division now owns 65,573 shares of the investment management company’s stock valued at $423,000 after purchasing an additional 19,848 shares during the last quarter. Institutional investors and hedge funds own 4.94% of the company’s stock.

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.