Horizon Technology Finance (NASDAQ:HRZN) Cut to Strong Sell at Zacks Research

Horizon Technology Finance (NASDAQ:HRZN) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

HRZN has been the subject of several other research reports. UBS Group increased their price target 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. Keefe, Bruyette & Woods upgraded shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 target price on the stock in a research report on Thursday. B. Riley Financial decreased their target price on Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a research report on Friday. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Technology Finance in a report on Thursday, January 22nd. Finally, Wall Street Zen cut shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $6.20.

Horizon Technology Finance Price Performance

NASDAQ HRZN opened at $4.20 on Thursday. Horizon Technology Finance has a fifty-two week low of $4.16 and a fifty-two week high of $9.52. The stock’s 50-day moving average is $6.41 and its two-hundred day moving average is $6.47. The firm has a market cap of $200.80 million, a P/E ratio of -26.25 and a beta of 0.97.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, March 3rd. The investment management company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.12). Horizon Technology Finance had a negative net margin of 2.77% and a positive return on equity of 14.52%. The business had revenue of $0.58 million during the quarter, compared to analyst estimates of $25.64 million. On average, equities analysts expect that Horizon Technology Finance will post 1.38 EPS for the current year.

Hedge Funds Weigh In On Horizon Technology Finance

Hedge funds have recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC raised its position in Horizon Technology Finance by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Horizon Technology Finance in the second quarter valued at $60,000. Nations Financial Group Inc. IA ADV bought a new stake in Horizon Technology Finance in the fourth quarter worth approximately $67,000. Allworth Financial LP bought a new position in Horizon Technology Finance during the second quarter worth $73,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Horizon Technology Finance in the 2nd quarter valued at about $77,000. Institutional investors own 4.94% of the company’s stock.

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.