Horizon Technology Finance (NASDAQ:HRZN) Stock Gets Price Target Reduction from B. Riley Financial

Horizon Technology Finance (NASDAQ:HRZN) had its price objective lowered by B. Riley Financial from $5.00 to $4.50 in a research note published on Tuesday,Benzinga reports. B. Riley Financial currently has a neutral rating on the investment management company’s stock.

Several other equities research analysts have also recently commented on HRZN. Keefe, Bruyette & Woods lowered their price target on Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating for the company in a research note on Friday, August 21st. Compass Point initiated coverage on shares of Horizon Technology Finance in a research report on Thursday, August 27th. They set a “buy” rating and a $5.50 price objective on the stock. Weiss Ratings cut shares of Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 19th. UBS Group lifted their target price on shares of Horizon Technology Finance from $4.25 to $4.50 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Finally, Oppenheimer decreased their target price on shares of Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Horizon Technology Finance has an average rating of “Hold” and an average target price of $4.65.

Horizon Technology Finance Trading Down 0.8%

HRZN opened at $3.76 on Tuesday. The stock has a market cap of $244.89 million, a price-to-earnings ratio of -5.01 and a beta of 1.00. Horizon Technology Finance has a 1 year low of $3.70 and a 1 year high of $6.78. The stock has a fifty day moving average price of $4.39 and a 200 day moving average price of $4.68.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Thursday, November 5th. The investment management company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Horizon Technology Finance had a positive return on equity of 10.31% and a negative net margin of 57.42%. The company had revenue of $24.06 million for the quarter, compared to analyst estimates of $25.12 million. As a group, sell-side analysts forecast that Horizon Technology Finance will post 0.64 earnings per share for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 16th. Shareholders of record on Thursday, February 18th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, February 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 19.1%. Horizon Technology Finance’s payout ratio is currently -96.00%.

Institutional Trading of Horizon Technology Finance

Several large investors have recently made changes to their positions in the stock. StoneX Group Inc. acquired a new position in Horizon Technology Finance during the third quarter valued at approximately $115,000. Oppenheimer & Co. Inc. raised its position in shares of Horizon Technology Finance by 65.4% in the third quarter. Oppenheimer & Co. Inc. now owns 20,196 shares of the investment management company’s stock valued at $93,000 after purchasing an additional 7,983 shares during the period. NewEdge Advisors LLC bought a new position in shares of Horizon Technology Finance in the second quarter valued at approximately $101,000. Squarepoint Ops LLC acquired a new stake in shares of Horizon Technology Finance in the second quarter worth $93,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of Horizon Technology Finance in the second quarter worth $148,000. Institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a specialty finance company that provides loans and growth capital to venture capital-backed businesses, particularly companies in the development and expansion stages. The company focuses on sectors including technology, life sciences, healthcare information and services, and sustainability. Its financing products primarily include secured loans, and it may also receive warrants or other equity-related interests as part of its investments. Horizon operates in the United States and is externally managed by Horizon Technology Finance Management LLC.