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

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have been assigned a consensus rating of “Reduce” from the eight ratings firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $6.1667.

A number of research analysts recently issued reports on HRZN shares. B. Riley Financial decreased their price target on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a research note on Friday, March 6th. Wall Street Zen lowered shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Keefe, Bruyette & Woods raised shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price objective for the company in a research report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Thursday, January 22nd. Finally, Oppenheimer dropped their target price on Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Tuesday, March 24th.

Horizon Technology Finance Price Performance

HRZN stock opened at $4.17 on Thursday. The business’s 50-day moving average is $5.55 and its two-hundred day moving average is $6.13. The firm has a market capitalization of $199.37 million, a P/E ratio of -26.06 and a beta of 1.10. Horizon Technology Finance has a 1 year low of $3.97 and a 1 year high of $9.52.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, March 3rd. The investment management company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). Horizon Technology Finance had a positive return on equity of 14.52% and a negative net margin of 2.77%.The company had revenue of $0.58 million for the quarter, compared to analyst estimates of $25.64 million. On average, analysts expect that Horizon Technology Finance will post 1.38 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Monday, May 18th will be issued a $0.06 dividend. The ex-dividend date is Monday, May 18th. This represents a c) dividend on an annualized basis and a dividend yield of 17.3%. Horizon Technology Finance’s dividend payout ratio is presently -450.00%.

Institutional Investors Weigh In On Horizon Technology Finance

Several hedge funds and other institutional investors have recently made changes to their positions in HRZN. Eagle Point Credit Management LLC acquired a new position in shares of Horizon Technology Finance in the 4th quarter valued at $2,385,000. Millennium Management LLC acquired a new stake in Horizon Technology Finance during the 3rd quarter worth $1,099,000. Green Alpha Advisors LLC lifted its position in Horizon Technology Finance by 29.0% in the third quarter. Green Alpha Advisors LLC now owns 500,029 shares of the investment management company’s stock valued at $3,050,000 after acquiring an additional 112,303 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Horizon Technology Finance in the third quarter valued at $435,000. Finally, Aquatic Capital Management LLC acquired a new position in Horizon Technology Finance in the third quarter valued at $395,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Horizon Technology Finance Company Profile

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.