Horizon Technology Finance (NASDAQ:HRZN) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Horizon Technology Finance (NASDAQ:HRZN) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other analysts have also weighed in on HRZN. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Technology Finance in a report on Thursday, January 22nd. Keefe, Bruyette & Woods upgraded Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price objective on the stock in a research report on Thursday. B. Riley Financial decreased their target price on Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a report on Friday. Finally, UBS Group lifted their price target on shares of Horizon Technology Finance from $6.25 to $6.50 and gave the company a “neutral” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $6.20.

Horizon Technology Finance Stock Performance

NASDAQ:HRZN opened at $4.20 on Friday. Horizon Technology Finance has a fifty-two week low of $4.16 and a fifty-two week high of $9.52. The firm has a market cap of $200.80 million, a PE ratio of -26.25 and a beta of 0.97. The business has a 50 day moving average price of $6.41 and a 200-day moving average price of $6.47.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings results 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). The firm had revenue of $0.58 million for the quarter, compared to the consensus estimate of $25.64 million. Horizon Technology Finance had a negative net margin of 2.77% and a positive return on equity of 14.52%. Research analysts predict that Horizon Technology Finance will post 1.38 EPS for the current year.

Horizon Technology Finance Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 16th. Investors of record on Monday, May 18th will be paid a $0.06 dividend. This represents a c) annualized dividend and a yield of 17.1%. The ex-dividend date of this dividend is Monday, May 18th. Horizon Technology Finance’s dividend payout ratio is presently -825.00%.

Hedge Funds Weigh In On Horizon Technology Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Green Alpha Advisors LLC boosted its holdings in shares of Horizon Technology Finance by 11.8% during the 4th quarter. Green Alpha Advisors LLC now owns 558,944 shares of the investment management company’s stock valued at $3,605,000 after buying an additional 58,915 shares in the last quarter. Eagle Point Credit Management LLC bought a new position in shares of Horizon Technology Finance in the 4th quarter worth about $2,385,000. Millennium Management LLC purchased a new position in Horizon Technology Finance during the 3rd quarter valued at about $1,099,000. Virtus Investment Advisers LLC boosted its stake in Horizon Technology Finance by 25.6% during the second quarter. Virtus Investment Advisers LLC now owns 177,768 shares of the investment management company’s stock worth $1,280,000 after acquiring an additional 36,226 shares in the last quarter. Finally, UBS Group AG boosted its stake in Horizon Technology Finance by 40.3% during the third quarter. UBS Group AG now owns 106,964 shares of the investment management company’s stock worth $652,000 after acquiring an additional 30,716 shares in the last quarter. Hedge funds and other institutional investors 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.