Analysts Set Horizon Technology Finance Corp (NASDAQ:HRZN) PT at $10.40

Horizon Technology Finance Corp (NASDAQ:HRZN) has earned a consensus rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $10.40.

HRZN has been the subject of a number of recent research reports. B. Riley increased their target price on Horizon Technology Finance from $8.50 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Zacks Investment Research raised shares of Horizon Technology Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, July 1st. Maxim Group reissued a “buy” rating and set a $12.00 target price on shares of Horizon Technology Finance in a research report on Tuesday, May 5th. ValuEngine lowered shares of Horizon Technology Finance from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st. Finally, Aegis cut their price objective on shares of Horizon Technology Finance from $13.20 to $10.50 and set a “buy” rating on the stock in a report on Thursday, April 30th.

In other news, CEO Robert D. Jr. Pomeroy purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average cost of $11.69 per share, for a total transaction of $116,900.00. Also, President Gerald A. Michaud acquired 14,900 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average cost of $11.70 per share, with a total value of $174,330.00. Corporate insiders own 1.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can acquired a new position in Horizon Technology Finance in the fourth quarter worth $57,000. Advisor Group Holdings Inc. bought a new position in shares of Horizon Technology Finance in the 1st quarter worth about $146,000. AXA acquired a new position in shares of Horizon Technology Finance in the 1st quarter valued at about $146,000. Raymond James & Associates grew its position in shares of Horizon Technology Finance by 19.1% during the 1st quarter. Raymond James & Associates now owns 12,227 shares of the investment management company’s stock valued at $99,000 after buying an additional 1,965 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Horizon Technology Finance by 2.4% during the first quarter. BlackRock Inc. now owns 78,262 shares of the investment management company’s stock worth $635,000 after acquiring an additional 1,839 shares during the period. 9.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of HRZN stock opened at $11.72 on Tuesday. The company has a market cap of $202.67 million, a PE ratio of 7.76 and a beta of 1.08. The company’s fifty day simple moving average is $11.27 and its 200-day simple moving average is $10.91. Horizon Technology Finance has a 52 week low of $4.51 and a 52 week high of $13.78.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, July 28th. The investment management company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.12. Horizon Technology Finance had a return on equity of 12.43% and a net margin of 39.91%. The firm had revenue of $13.52 million during the quarter, compared to the consensus estimate of $11.08 million. As a group, equities analysts forecast that Horizon Technology Finance will post 1.23 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 18th will be given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.24%. The ex-dividend date is Tuesday, November 17th. Horizon Technology Finance’s payout ratio is currently 78.95%.

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, and cleantech industries.

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Analyst Recommendations for Horizon Technology Finance (NASDAQ:HRZN)

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