Oppenheimer Has Lowered Expectations for Horizon Technology Finance (NASDAQ:HRZN) Stock Price

Horizon Technology Finance (NASDAQ:HRZN) had its target price lowered by Oppenheimer from $6.00 to $5.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the investment management company’s stock. Oppenheimer’s price objective indicates a potential upside of 7.87% from the company’s previous close.

A number of other research analysts have also issued reports on HRZN. Zacks Research upgraded shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. UBS Group cut their target price on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a research report on Monday, May 18th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Wednesday. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Horizon Technology Finance presently has a consensus rating of “Hold” and a consensus price target of $5.45.

Horizon Technology Finance Price Performance

HRZN traded up $0.06 on Friday, hitting $4.63. The company had a trading volume of 53,123 shares, compared to its average volume of 915,656. The stock has a market cap of $310.68 million, a price-to-earnings ratio of 12.88 and a beta of 0.98. The company’s fifty day moving average price is $4.49 and its 200 day moving average price is $4.85. Horizon Technology Finance has a 1-year low of $3.80 and a 1-year high of $7.28.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, August 4th. The investment management company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Horizon Technology Finance had a net margin of 5.27% and a return on equity of 11.15%. The company had revenue of ($44.66) million for the quarter, compared to analyst estimates of $25.22 million. On average, sell-side analysts forecast that Horizon Technology Finance will post 0.69 EPS for the current year.

Insider Buying and Selling at Horizon Technology Finance

In related news, CIO Paul G. Seitz acquired 11,477 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were bought at an average price of $4.35 per share, for a total transaction of $49,924.95. Following the acquisition, the executive owned 12,242 shares in the company, valued at $53,252.70. This trade represents a 1,500.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Balkin purchased 100,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $4.34 per share, for a total transaction of $434,000.00. Following the completion of the purchase, the chief executive officer directly owned 223,527 shares of the company’s stock, valued at approximately $970,107.18. This trade represents a 80.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 134,977 shares of company stock valued at $585,975 in the last three months. 0.29% of the stock is owned by insiders.

Institutional Trading of Horizon Technology Finance

Several institutional investors have recently modified their holdings of HRZN. N.E.W. Advisory Services LLC increased its position in shares of Horizon Technology Finance by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 2,000 shares during the period. Sanctuary Advisors LLC bought a new position in Horizon Technology Finance in the first quarter worth $50,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Horizon Technology Finance during the first quarter worth $52,000. Tower Research Capital LLC TRC acquired a new stake in Horizon Technology Finance during the second quarter worth $60,000. Finally, Chapin Davis Inc. bought a new stake in Horizon Technology Finance in the 2nd quarter valued at $60,000. Institutional investors and hedge funds 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.