Horizon Technology Finance Co. (NASDAQ:HRZN) Given Average Recommendation of “Reduce” by Analysts

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have earned an average rating of “Reduce” from the five brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $9.75.

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

Horizon Technology Finance Stock Performance

NASDAQ HRZN opened at $9.20 on Monday. The stock has a 50-day simple moving average of $9.41 and a two-hundred day simple moving average of $9.73. The firm has a market capitalization of $370.90 million, a P/E ratio of -76.67 and a beta of 1.18. Horizon Technology Finance has a fifty-two week low of $8.46 and a fifty-two week high of $12.63.

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

Horizon Technology Finance Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Two Sigma Advisers LP boosted its holdings in shares of Horizon Technology Finance by 44.6% during the 4th quarter. Two Sigma Advisers LP now owns 49,897 shares of the investment management company’s stock worth $449,000 after purchasing an additional 15,397 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Horizon Technology Finance during the 4th quarter worth approximately $220,000. Brevan Howard Capital Management LP boosted its holdings in shares of Horizon Technology Finance by 15.1% during the 4th quarter. Brevan Howard Capital Management LP now owns 16,093 shares of the investment management company’s stock worth $145,000 after purchasing an additional 2,108 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Horizon Technology Finance during the 4th quarter worth approximately $173,000. Finally, Jane Street Group LLC acquired a new position in shares of Horizon Technology Finance during the 4th quarter worth approximately $447,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

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.