Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives $7.00 Consensus PT from Brokerages

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have been assigned a consensus rating of “Reduce” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $7.00.

Several research analysts recently commented on HRZN shares. Wall Street Zen raised shares of Horizon Technology Finance from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Wednesday, October 8th. Finally, UBS Group raised their target price on shares of Horizon Technology Finance from $6.25 to $6.50 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th.

Horizon Technology Finance Stock Performance

Shares of HRZN stock opened at $6.31 on Tuesday. The stock has a 50 day moving average price of $6.47 and a 200 day moving average price of $6.91. Horizon Technology Finance has a 52-week low of $5.70 and a 52-week high of $9.99. The firm has a market capitalization of $279.82 million, a P/E ratio of -9.41 and a beta of 0.99.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, October 28th. The investment management company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Horizon Technology Finance had a positive return on equity of 15.01% and a negative net margin of 24.19%.The business had revenue of $26.32 million for the quarter, compared to analyst estimates of $22.99 million. As a group, sell-side analysts forecast that Horizon Technology Finance will post 1.38 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a c) dividend on an annualized basis and a yield of 20.9%. Horizon Technology Finance’s payout ratio is -197.01%.

Hedge Funds Weigh In On Horizon Technology Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new stake in Horizon Technology Finance in the second quarter worth about $60,000. Allworth Financial LP purchased a new position in Horizon Technology Finance during the 2nd quarter valued at about $73,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Horizon Technology Finance in the 2nd quarter valued at about $77,000. Marshall Wace LLP purchased a new stake in shares of Horizon Technology Finance in the 2nd quarter worth approximately $103,000. Finally, Virtu Financial LLC bought a new position in shares of Horizon Technology Finance during the third quarter valued at approximately $119,000. 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.