Horizon Technology Finance (NASDAQ:HRZN) Given New $5.00 Price Target at Oppenheimer

Horizon Technology Finance (NASDAQ:HRZN) had its price objective decreased by Oppenheimer from $6.00 to $5.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the investment management company’s stock. Oppenheimer’s price objective would indicate a potential upside of 7.87% from the company’s current price.

Several other equities analysts also recently commented on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Horizon Technology Finance in a research report on Wednesday. Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, UBS Group dropped their price objective on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a research note on Monday, May 18th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.45.

Horizon Technology Finance Stock Up 1.2%

HRZN traded up $0.06 during midday trading on Friday, reaching $4.63. 53,123 shares of the company’s stock were exchanged, compared to its average volume of 915,656. The firm has a market capitalization of $310.68 million, a price-to-earnings ratio of 12.88 and a beta of 0.98. Horizon Technology Finance has a one year low of $3.80 and a one year high of $7.28. The business has a 50-day simple moving average of $4.49 and a two-hundred day simple moving average of $4.85.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Horizon Technology Finance had a net margin of 5.27% and a return on equity of 11.15%. The company had revenue of ($44.66) million for the quarter, compared to analyst estimates of $25.22 million. As a group, research analysts anticipate that Horizon Technology Finance will post 0.69 EPS for the current fiscal year.

Insider Activity at Horizon Technology Finance

In other Horizon Technology Finance news, Director Jonathan Joseph Goodman bought 6,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $4.33 per share, for a total transaction of $25,980.00. Following the completion of the purchase, the director owned 8,312 shares in the company, valued at $35,990.96. This represents a 259.52% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Balkin purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average cost of $4.34 per share, with a total value of $434,000.00. Following the completion of the acquisition, the chief executive officer directly owned 223,527 shares of the company’s stock, valued at $970,107.18. The trade was a 80.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 134,977 shares of company stock valued at $585,975. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Horizon Technology Finance

Several hedge funds have recently modified their holdings of the stock. N.E.W. Advisory Services LLC increased its holdings in Horizon Technology Finance by 100.0% in 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 during the last quarter. ETF Store Inc. lifted its stake in Horizon Technology Finance by 5.3% in the fourth quarter. ETF Store Inc. now owns 60,873 shares of the investment management company’s stock valued at $393,000 after buying an additional 3,055 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Horizon Technology Finance by 20.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 43,268 shares of the investment management company’s stock worth $312,000 after buying an additional 7,197 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Horizon Technology Finance during the second quarter worth about $60,000. Finally, Nations Financial Group Inc. IA ADV acquired a new position in shares of Horizon Technology Finance during the 4th quarter worth about $67,000. 4.94% of the stock is owned by institutional investors.

About Horizon Technology Finance

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.