Horizon Technology Finance Corporation (NASDAQ:HRZN) Given Consensus Recommendation of “Reduce” by Brokerages

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

HRZN has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Horizon Technology Finance in a research report on Wednesday, October 8th. UBS Group raised their price objective on Horizon Technology Finance from $6.25 to $6.50 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Finally, Wall Street Zen upgraded Horizon Technology Finance from a “hold” rating to a “buy” rating in a report on Saturday, November 1st.

Institutional Trading of Horizon Technology Finance

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new position in Horizon Technology Finance during the 2nd quarter worth $60,000. Allworth Financial LP bought a new position in shares of Horizon Technology Finance during the second quarter worth about $73,000. Y Intercept Hong Kong Ltd bought a new position in shares of Horizon Technology Finance during the second quarter worth about $77,000. Marshall Wace LLP acquired a new position in Horizon Technology Finance in the second quarter worth about $103,000. Finally, Virtu Financial LLC acquired a new position in Horizon Technology Finance in the third quarter worth about $119,000. 4.94% of the stock is owned by institutional investors and hedge funds.

Horizon Technology Finance Trading Up 1.4%

NASDAQ HRZN opened at $6.70 on Friday. The stock has a market cap of $297.35 million, a P/E ratio of -10.00 and a beta of 0.98. The company’s fifty day simple moving average is $6.56 and its 200-day simple moving average is $6.79. Horizon Technology Finance has a 52 week low of $5.70 and a 52 week high of $9.99.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. The firm had revenue of $26.32 million for the quarter, compared to the consensus estimate of $22.99 million. Horizon Technology Finance had a negative net margin of 24.19% and a positive return on equity of 15.01%. On average, research analysts expect that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Company Profile

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.