Horizon Technology Finance Co. (NASDAQ:HRZN) Receives Consensus Rating of “Reduce” from Brokerages

Horizon Technology Finance Co. (NASDAQ:HRZN) has been given a consensus recommendation of “Reduce” by the five brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $9.20.

A number of analysts have issued reports on the company. Maxim Group reduced their price objective on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Keefe, Bruyette & Woods lowered their price objective on shares of Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating for the company in a research report on Tuesday, April 8th. UBS Group decreased their target price on shares of Horizon Technology Finance from $9.00 to $8.25 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Finally, StockNews.com cut Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th.

Horizon Technology Finance Stock Performance

HRZN stock opened at $8.25 on Thursday. The company has a market capitalization of $332.60 million, a PE ratio of -68.75 and a beta of 1.08. The company’s fifty day moving average price is $9.10 and its 200-day moving average price is $9.33. Horizon Technology Finance has a one year low of $7.55 and a one year high of $12.63.

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 firm had revenue of $23.55 million for the quarter, compared to analysts’ expectations 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, research analysts predict that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a yield of 16.34%. Horizon Technology Finance’s payout ratio is -1,100.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Green Alpha Advisors LLC boosted its holdings in 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 valued at $3,379,000 after acquiring an additional 68,295 shares during the period. Two Sigma Advisers LP increased its stake in Horizon Technology Finance by 44.6% in the 4th quarter. Two Sigma Advisers LP now owns 49,897 shares of the investment management company’s stock worth $449,000 after buying an additional 15,397 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Horizon Technology Finance during the 4th quarter valued at about $220,000. Brevan Howard Capital Management LP grew its stake in Horizon Technology Finance by 15.1% in the 4th quarter. Brevan Howard Capital Management LP now owns 16,093 shares of the investment management company’s stock worth $145,000 after acquiring an additional 2,108 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Horizon Technology Finance during the fourth quarter valued at approximately $173,000. Institutional investors own 4.94% of the company’s stock.

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.