Horizon Technology Finance Co. (NASDAQ:HRZN) Receives $10.80 Average Price Target from Brokerages

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have earned a consensus rating of “Reduce” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $10.80.

A number of equities analysts recently weighed in on HRZN shares. UBS Group lowered their target price on shares of Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a report on Monday, March 18th. Oppenheimer lowered their target price on shares of Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, March 1st. B. Riley downgraded shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 target price on the stock. in a report on Monday, January 8th. Finally, LADENBURG THALM/SH SH restated a “neutral” rating on shares of Horizon Technology Finance in a report on Wednesday, February 28th.

Horizon Technology Finance Stock Up 0.4 %

Shares of HRZN stock opened at $11.24 on Friday. The company’s fifty day simple moving average is $12.49 and its 200-day simple moving average is $12.39. The firm has a market cap of $375.42 million, a PE ratio of -22.94 and a beta of 1.21. Horizon Technology Finance has a 12 month low of $10.75 and a 12 month high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, February 27th. The investment management company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The business had revenue of $28.18 million during the quarter, compared to the consensus estimate of $29.21 million. Horizon Technology Finance had a positive return on equity of 18.24% and a negative net margin of 15.14%. On average, equities analysts predict that Horizon Technology Finance will post 1.53 earnings per share for the current fiscal year.

Horizon Technology Finance Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Tuesday, March 19th will be issued a $0.16 dividend. This is an increase from Horizon Technology Finance’s previous dividend of $0.11. This represents a dividend yield of 16.48%. The ex-dividend date of this dividend is Monday, March 18th. Horizon Technology Finance’s payout ratio is currently -269.38%.

Insider Buying and Selling at Horizon Technology Finance

In related news, President Gerald A. Michaud acquired 3,650 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were purchased at an average cost of $11.77 per share, for a total transaction of $42,960.50. Following the completion of the acquisition, the president now directly owns 156,244 shares in the company, valued at $1,838,991.88. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Horizon Technology Finance

Several institutional investors and hedge funds have recently modified their holdings of HRZN. Royal Bank of Canada lifted its position in Horizon Technology Finance by 2.5% during the fourth quarter. Royal Bank of Canada now owns 36,819 shares of the investment management company’s stock worth $485,000 after purchasing an additional 887 shares during the period. Great West Life Assurance Co. Can raised its holdings in Horizon Technology Finance by 4.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 24,724 shares of the investment management company’s stock valued at $300,000 after buying an additional 1,039 shares during the last quarter. UBS Group AG raised its holdings in Horizon Technology Finance by 4.7% in the 4th quarter. UBS Group AG now owns 23,254 shares of the investment management company’s stock valued at $306,000 after buying an additional 1,043 shares during the last quarter. Wells Fargo & Company MN increased its position in Horizon Technology Finance by 3.5% during the 2nd quarter. Wells Fargo & Company MN now owns 35,289 shares of the investment management company’s stock valued at $426,000 after purchasing an additional 1,182 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Horizon Technology Finance by 6.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 22,572 shares of the investment management company’s stock valued at $255,000 after purchasing an additional 1,358 shares during the period. 4.94% of the stock is currently owned by institutional investors and hedge funds.

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.