Brokerages Set Horizon Technology Finance Co. (NASDAQ:HRZN) Target Price at $9.75

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have earned a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $9.75.

Several analysts have recently commented on HRZN shares. StockNews.com lowered shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Maxim Group cut their target price on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Keefe, Bruyette & Woods cut their target price on Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Friday, March 7th. Finally, Compass Point raised Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price on the stock in a research report on Tuesday, December 17th.

Institutional Trading of Horizon Technology Finance

A number of large investors have recently modified their holdings of the stock. Two Sigma Advisers LP increased its position in shares of Horizon Technology Finance by 44.6% during the fourth quarter. Two Sigma Advisers LP now owns 49,897 shares of the investment management company’s stock worth $449,000 after acquiring an additional 15,397 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in shares of Horizon Technology Finance during the fourth quarter worth $220,000. Brevan Howard Capital Management LP increased its position in shares of Horizon Technology Finance by 15.1% during the fourth quarter. Brevan Howard Capital Management LP now owns 16,093 shares of the investment management company’s stock worth $145,000 after acquiring an additional 2,108 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Horizon Technology Finance during the fourth quarter worth $173,000. Finally, Jane Street Group LLC purchased a new stake in shares of Horizon Technology Finance during the fourth quarter worth $447,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Stock Performance

HRZN stock opened at $9.20 on Monday. The firm has a market cap of $370.90 million, a PE ratio of -76.67 and a beta of 1.18. The firm’s 50 day moving average price is $9.41 and its 200-day moving average price is $9.73. Horizon Technology Finance has a one year low of $8.46 and a one year high of $12.63.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings results on Tuesday, March 4th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.06). The firm had revenue of $23.55 million for the quarter, compared to analysts’ expectations of $25.69 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. Equities research analysts predict that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 14.35%. The ex-dividend date is Monday, March 17th. Horizon Technology Finance’s dividend payout ratio is currently -1,100.00%.

About Horizon Technology Finance

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.