Horizon Technology Finance (NASDAQ:HRZN) Rating Lowered to Strong Sell at Zacks Research

Horizon Technology Finance (NASDAQ:HRZN) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research firms also recently issued reports on HRZN. 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 report on Thursday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Thursday, January 22nd. UBS Group increased their price objective on Horizon Technology Finance from $6.25 to $6.50 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Wall Street Zen downgraded Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday. Finally, B. Riley Financial lowered their price target on Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a report on Friday. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $6.20.

Horizon Technology Finance Price Performance

Shares of HRZN stock opened at $4.20 on Thursday. The company’s fifty day simple moving average is $6.41 and its two-hundred day simple moving average is $6.47. The stock has a market capitalization of $200.80 million, a price-to-earnings ratio of -26.25 and a beta of 0.97. Horizon Technology Finance has a 1 year low of $4.16 and a 1 year high of $9.52.

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

Institutional Trading of Horizon Technology Finance

Several institutional investors have recently added to or reduced their stakes in HRZN. N.E.W. Advisory Services LLC grew its position in Horizon Technology Finance by 100.0% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Horizon Technology Finance during the second quarter valued at about $60,000. Allworth Financial LP purchased a new stake in Horizon Technology Finance during the second quarter valued at approximately $73,000. Nations Financial Group Inc. IA ADV purchased a new position in Horizon Technology Finance during the 4th quarter worth $67,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Horizon Technology Finance in the 2nd quarter worth approximately $77,000. Institutional investors own 4.94% of the company’s stock.

About Horizon Technology Finance

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.