Brokerages Set Horizon Technology Finance Co. (NASDAQ:HRZN) Price Target at $10.38

Horizon Technology Finance Co. (NASDAQ:HRZN) has been given an average recommendation of “Reduce” by the five research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $10.38.

A number of brokerages have issued reports on HRZN. B. Riley lowered shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 target price for the company. in a research note on Monday, January 8th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating on shares of Horizon Technology Finance in a research note on Wednesday, February 28th. Oppenheimer reduced their price objective on shares of Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Friday, March 1st. Finally, UBS Group reduced their price objective on shares of Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating for the company in a research note on Monday, March 18th.

Insiders Place Their Bets

In other news, President Gerald A. Michaud bought 3,650 shares of the business’s stock in a transaction on Friday, March 8th. The stock was purchased at an average price of $11.77 per share, with a total value of $42,960.50. Following the transaction, the president now directly owns 156,244 shares in the company, valued at $1,838,991.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its holdings in shares of Horizon Technology Finance by 5.2% during the 1st quarter. Advisors Asset Management Inc. now owns 287,234 shares of the investment management company’s stock worth $3,240,000 after purchasing an additional 14,170 shares during the period. Millennium Management LLC increased its holdings in shares of Horizon Technology Finance by 73.4% during the 4th quarter. Millennium Management LLC now owns 270,284 shares of the investment management company’s stock worth $3,135,000 after purchasing an additional 114,377 shares during the period. Legal & General Group Plc increased its holdings in shares of Horizon Technology Finance by 126.6% during the 4th quarter. Legal & General Group Plc now owns 248,429 shares of the investment management company’s stock worth $3,273,000 after purchasing an additional 138,792 shares during the period. Green Alpha Advisors LLC increased its holdings in shares of Horizon Technology Finance by 15.1% during the 1st quarter. Green Alpha Advisors LLC now owns 228,943 shares of the investment management company’s stock worth $2,603,000 after purchasing an additional 29,956 shares during the period. Finally, Eqis Capital Management Inc. increased its holdings in shares of Horizon Technology Finance by 1.7% during the 1st quarter. Eqis Capital Management Inc. now owns 192,095 shares of the investment management company’s stock worth $2,670,000 after purchasing an additional 3,203 shares during the period. Institutional investors and hedge funds own 4.94% of the company’s stock.

Horizon Technology Finance Price Performance

Shares of NASDAQ:HRZN opened at $11.49 on Wednesday. The stock’s 50 day moving average price is $11.87 and its 200 day moving average price is $12.33. The stock has a market cap of $383.74 million, a price-to-earnings ratio of -23.45 and a beta of 1.21. Horizon Technology Finance has a 12 month low of $10.75 and a 12 month high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, February 27th. The investment management company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The company had revenue of $28.18 million for the quarter, compared to analyst estimates of $29.21 million. Horizon Technology Finance had a negative net margin of 15.14% and a positive return on equity of 18.24%. On average, sell-side analysts expect that Horizon Technology Finance will post 1.53 EPS for the current year.

Horizon Technology Finance Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, April 16th. Shareholders of record on Tuesday, March 19th were given a dividend of $0.16 per share. This is a positive change from Horizon Technology Finance’s previous dividend of $0.11. The ex-dividend date of this dividend was Monday, March 18th. This represents a yield of 16.48%. Horizon Technology Finance’s payout ratio is currently -269.39%.

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.