Analysts Set Horizon Technology Finance Co. (NASDAQ:HRZN) Price Target at $9.20

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been given an average recommendation of “Reduce” by the five brokerages that are presently covering the stock, MarketBeat reports. Two 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 1-year price objective among analysts that have updated their coverage on the stock in the last year is $9.20.

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. UBS Group cut their target price on Horizon Technology Finance from $9.00 to $8.25 and set a “neutral” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods lowered their price target on Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating on the stock in a report on Tuesday, April 8th. Finally, Maxim Group cut their price objective on shares of Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday, March 10th.

Horizon Technology Finance Trading Up 3.8 %

Horizon Technology Finance stock opened at $8.39 on Thursday. The firm has a market cap of $338.24 million, a price-to-earnings ratio of -69.92 and a beta of 1.08. Horizon Technology Finance has a 12 month low of $7.55 and a 12 month high of $12.63. The stock has a fifty day simple moving average of $9.13 and a two-hundred day simple moving average of $9.35.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings data on Tuesday, March 4th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The company had revenue of $23.55 million for the quarter, compared to the consensus estimate of $25.69 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. On average, equities research analysts forecast that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be given a dividend of $0.11 per share. This represents a yield of 16.34%. The ex-dividend date is Wednesday, April 16th. Horizon Technology Finance’s dividend payout ratio (DPR) is -1,100.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Crew Capital Management Ltd. bought a new stake in shares of Horizon Technology Finance in the 4th quarter valued at about $99,000. Mutual Advisors LLC purchased a new stake in Horizon Technology Finance during the fourth quarter valued at approximately $106,000. JPMorgan Chase & Co. acquired a new stake in Horizon Technology Finance in the third quarter valued at approximately $117,000. Quantbot Technologies LP grew its holdings in Horizon Technology Finance by 43.0% in the fourth quarter. Quantbot Technologies LP now owns 13,290 shares of the investment management company’s stock worth $119,000 after purchasing an additional 3,996 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Horizon Technology Finance in the fourth quarter worth $124,000. 4.94% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Technology Finance Company Profile

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.