Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives Average Recommendation of “Hold” from Brokerages

Horizon Technology Finance Corporation (NASDAQ:HRZN) has been given an average recommendation of “Hold” by the seven research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.65.

A number of equities research analysts have weighed in on HRZN shares. Keefe, Bruyette & Woods raised shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price target for the company in a report on Thursday, March 5th. Oppenheimer reduced their price objective on shares of Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Horizon Technology Finance in a research note on Friday, May 8th. UBS Group reduced their price objective on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a research note on Monday, May 18th. Finally, Zacks Research raised shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th.

Horizon Technology Finance Trading Up 1.5%

Shares of NASDAQ HRZN opened at $4.07 on Friday. Horizon Technology Finance has a twelve month low of $3.80 and a twelve month high of $8.46. The company has a market capitalization of $277.82 million, a price-to-earnings ratio of 9.47 and a beta of 0.99. The firm has a 50-day moving average of $4.25 and a two-hundred day moving average of $5.62.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, May 5th. The investment management company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. The company had revenue of ($6.19) million during the quarter, compared to the consensus estimate of $21.09 million. As a group, research analysts predict that Horizon Technology Finance will post 0.69 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, August 17th. Horizon Technology Finance’s dividend payout ratio is currently 167.44%.

Institutional Trading of Horizon Technology Finance

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of Horizon Technology Finance in the first quarter worth approximately $50,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Horizon Technology Finance in the first quarter worth approximately $52,000. Quadrature Capital Ltd purchased a new stake in shares of Horizon Technology Finance in the fourth quarter worth approximately $365,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Horizon Technology Finance in the fourth quarter worth approximately $187,000. Finally, Regal Investment Advisors LLC purchased a new stake in shares of Horizon Technology Finance in the fourth quarter worth approximately $316,000. 4.94% of the stock is owned by hedge funds and other institutional investors.

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.