Brokerages Set Horizon Technology Finance Co. (NASDAQ:HRZN) Target Price at $10.38

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have received an average rating of “Reduce” from the five research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $10.38.

Several brokerages have commented on HRZN. LADENBURG THALM/SH SH reaffirmed a “neutral” rating on shares of Horizon Technology Finance in a research report on Wednesday, February 28th. UBS Group reduced their price target on shares of Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Oppenheimer decreased their price objective on shares of Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Friday, March 1st. Finally, 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 research note on Monday, January 8th.

Horizon Technology Finance Stock Performance

NASDAQ HRZN opened at $11.68 on Wednesday. The company has a market cap of $390.09 million, a P/E ratio of -23.84 and a beta of 1.21. The business’s 50 day moving average price is $11.80 and its 200-day moving average price is $12.33. Horizon Technology Finance has a fifty-two week low of $10.75 and a fifty-two week high of $13.73.

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

Horizon Technology Finance Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 16th. Shareholders of record on Tuesday, March 19th were given a dividend of $0.16 per share. This is an increase from Horizon Technology Finance’s previous dividend of $0.11. The ex-dividend date was Monday, March 18th. This represents a yield of 16.48%. Horizon Technology Finance’s dividend payout ratio (DPR) is -269.39%.

Insider Buying and Selling

In other news, President Gerald A. Michaud acquired 3,650 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $11.77 per share, with a total value of $42,960.50. Following the transaction, the president now directly owns 156,244 shares in the company, valued at $1,838,991.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Horizon Technology Finance

A number of large investors have recently made changes to their positions in HRZN. International Assets Investment Management LLC acquired a new position in Horizon Technology Finance in the 4th quarter worth approximately $954,000. PNC Financial Services Group Inc. acquired a new stake in Horizon Technology Finance during the 3rd quarter worth about $755,000. Quadrature Capital Ltd acquired a new stake in Horizon Technology Finance during the third quarter worth about $517,000. Virtus ETF Advisers LLC grew its stake in shares of Horizon Technology Finance by 136.4% during the 3rd quarter. Virtus ETF Advisers LLC now owns 57,835 shares of the investment management company’s stock worth $687,000 after purchasing an additional 33,367 shares during the period. Finally, Green Alpha Advisors LLC increased its holdings in Horizon Technology Finance by 15.1% in the first quarter. Green Alpha Advisors LLC now owns 228,943 shares of the investment management company’s stock valued at $2,603,000 after buying an additional 29,956 shares in the last quarter. 4.94% of the stock is owned by hedge funds and other institutional investors.

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.