Horizon Technology Finance (NASDAQ:HRZN) Downgraded by TheStreet to C

Horizon Technology Finance (NASDAQ:HRZN) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c” rating in a research report issued to clients and investors on Tuesday, TheStreetRatingsTable reports.

HRZN has been the subject of a number of other research reports. ValuEngine cut Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Wednesday, March 18th. Aegis upgraded Horizon Technology Finance from a “hold” rating to a “buy” rating and set a $13.20 target price for the company in a report on Wednesday, March 4th. Compass Point upgraded Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $10.50 target price for the company in a report on Friday, February 28th. Maxim Group reiterated a “buy” rating and issued a $13.50 target price on shares of Horizon Technology Finance in a report on Thursday, March 5th. Finally, Zacks Investment Research upgraded Horizon Technology Finance from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, March 10th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $11.78.

NASDAQ HRZN traded up $1.82 during trading on Tuesday, hitting $9.34. 629,500 shares of the stock traded hands, compared to its average volume of 290,592. The company has a market capitalization of $109.30 million, a P/E ratio of 6.53 and a beta of 0.79. The firm has a 50-day simple moving average of $11.42 and a 200-day simple moving average of $12.16. Horizon Technology Finance has a 12-month low of $4.51 and a 12-month high of $13.78.

Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Tuesday, March 3rd. The investment management company reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.10. The firm had revenue of $12.98 million during the quarter, compared to analysts’ expectations of $10.15 million. Horizon Technology Finance had a return on equity of 12.30% and a net margin of 45.21%. Equities analysts forecast that Horizon Technology Finance will post 1.3 EPS for the current fiscal year.

In other Horizon Technology Finance news, CEO Robert D. Jr. Pomeroy acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $10.75 per share, for a total transaction of $43,000.00. Following the acquisition, the chief executive officer now directly owns 102,498 shares in the company, valued at $1,101,853.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph J. Savage acquired 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average price of $7.02 per share, with a total value of $56,160.00. In the last 90 days, insiders have purchased 20,421 shares of company stock valued at $162,240. 1.50% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of HRZN. Marshall Wace North America L.P. purchased a new position in Horizon Technology Finance during the 1st quarter valued at $62,000. Millennium Management LLC purchased a new position in Horizon Technology Finance during the 3rd quarter valued at $127,000. Eqis Capital Management Inc. boosted its holdings in Horizon Technology Finance by 8.7% during the 4th quarter. Eqis Capital Management Inc. now owns 15,691 shares of the investment management company’s stock valued at $203,000 after acquiring an additional 1,258 shares during the period. California Public Employees Retirement System boosted its holdings in Horizon Technology Finance by 8.8% during the 4th quarter. California Public Employees Retirement System now owns 21,000 shares of the investment management company’s stock valued at $272,000 after acquiring an additional 1,700 shares during the period. Finally, Great West Life Assurance Co. Can purchased a new position in Horizon Technology Finance during the 4th quarter valued at $57,000. Institutional investors own 10.66% of the company’s stock.

Horizon Technology Finance Company Profile

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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