Keefe, Bruyette & Woods Cuts Horizon Technology Finance (NASDAQ:HRZN) Price Target to $4.50

Horizon Technology Finance (NASDAQ:HRZN) had its target price cut by Keefe, Bruyette & Woods from $5.00 to $4.50 in a research report report published on Friday morning,Benzinga reports. They currently have a market perform rating on the investment management company’s stock.

Other equities analysts also recently issued reports about the stock. UBS Group cut their price target on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating on the stock in a report on Monday, May 18th. Weiss Ratings lowered Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday. Zacks Research raised Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Oppenheimer reduced their price target on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Horizon Technology Finance has an average rating of “Reduce” and a consensus target price of $4.81.

Horizon Technology Finance Stock Performance

NASDAQ:HRZN opened at $4.82 on Friday. The firm has a market capitalization of $323.08 million, a PE ratio of 13.39 and a beta of 0.98. The stock’s fifty day moving average is $4.59 and its 200 day moving average is $4.71. Horizon Technology Finance has a fifty-two week low of $3.80 and a fifty-two week high of $7.07.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%.The firm had revenue of ($44.66) million for the quarter, compared to analysts’ expectations of $25.22 million. Equities analysts forecast that Horizon Technology Finance will post 0.63 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, November 17th will be paid a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 14.9%. The ex-dividend date is Tuesday, November 17th. Horizon Technology Finance’s dividend payout ratio is currently 200.00%.

Insider Buying and Selling at Horizon Technology Finance

In other news, Director Thomas J. Allison acquired 6,000 shares of Horizon Technology Finance stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $4.36 per share, for a total transaction of $26,160.00. Following the acquisition, the director directly owned 55,926 shares of the company’s stock, valued at $243,837.36. This trade represents a 12.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Joseph Goodman bought 6,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $4.33 per share, with a total value of $25,980.00. Following the completion of the transaction, the director owned 8,312 shares in the company, valued at $35,990.96. This represents a 259.52% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 134,977 shares of company stock valued at $585,975. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Horizon Technology Finance

Hedge funds and other institutional investors have recently made changes to their positions in the company. N.E.W. Advisory Services LLC boosted its position in Horizon Technology Finance by 100.0% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 2,000 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Horizon Technology Finance by 20.0% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 43,268 shares of the investment management company’s stock worth $312,000 after acquiring an additional 7,197 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Horizon Technology Finance during the 2nd quarter worth $60,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Horizon Technology Finance during the 2nd quarter worth $54,000. Finally, Sanctuary Advisors LLC bought a new stake in Horizon Technology Finance during the first quarter valued at about $50,000. Institutional investors own 4.94% of the company’s stock.

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.