Brokerages Set Horizon Technology Finance Corporation (NASDAQ:HRZN) PT at $8.40

Horizon Technology Finance Corporation (NASDAQ:HRZN) has earned an average recommendation of “Reduce” from the five research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $8.40.

A number of equities research analysts recently commented on the company. UBS Group lifted their target price on Horizon Technology Finance from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods decreased their target price on Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating for the company in a report on Tuesday, April 8th. Compass Point downgraded Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $6.50 target price for the company. in a report on Wednesday, April 30th. Finally, B. Riley started coverage on Horizon Technology Finance in a report on Tuesday, May 13th. They issued a “neutral” rating and a $7.00 price target for the company.

Horizon Technology Finance Stock Down 1.1%

Horizon Technology Finance stock opened at $8.07 on Friday. Horizon Technology Finance has a 52 week low of $7.09 and a 52 week high of $12.04. The company has a market capitalization of $325.62 million, a price-to-earnings ratio of -8.87 and a beta of 0.99. The stock has a 50-day moving average price of $7.68 and a 200 day moving average price of $8.45.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, April 29th. The investment management company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Horizon Technology Finance had a positive return on equity of 13.98% and a negative net margin of 36.34%. The firm had revenue of $24.52 million for the quarter, compared to analyst estimates of $26.67 million. Research analysts anticipate that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 17th were issued a $0.11 dividend. This represents a yield of 18.06%. The ex-dividend date was Monday, June 16th. Horizon Technology Finance’s payout ratio is presently -145.05%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. TrueMark Investments LLC lifted its holdings in Horizon Technology Finance by 30.2% in the first quarter. TrueMark Investments LLC now owns 272,512 shares of the investment management company’s stock valued at $2,567,000 after acquiring an additional 63,134 shares during the period. Jane Street Group LLC acquired a new position in shares of Horizon Technology Finance during the 4th quarter worth approximately $447,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Horizon Technology Finance during the 4th quarter worth approximately $220,000. Green Alpha Advisors LLC raised its stake in shares of Horizon Technology Finance by 23.5% during the 1st quarter. Green Alpha Advisors LLC now owns 358,742 shares of the investment management company’s stock worth $3,379,000 after buying an additional 68,295 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Horizon Technology Finance during the 4th quarter worth approximately $1,288,000. 4.94% of the stock is owned by institutional investors and hedge funds.

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.