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

TheStreet downgraded shares of Horizon Technology Finance (NASDAQ:HRZN) from a b- rating to a c rating in a research note issued to investors on Tuesday, TheStreetRatingsTable reports.

Several other equities research analysts have also recently commented on HRZN. Compass Point raised Horizon Technology Finance from a sell rating to a neutral rating and set a $10.50 target price for the company in a research note on Friday, February 28th. Aegis raised Horizon Technology Finance from a hold rating to a buy rating and set a $13.20 target price for the company in a research note on Wednesday, March 4th. ValuEngine cut Horizon Technology Finance from a hold rating to a sell rating in a research note on Wednesday, March 18th. Zacks Investment Research raised Horizon Technology Finance from a hold rating to a buy rating and set a $14.00 target price for the company in a research note on Tuesday, March 10th. Finally, B. Riley decreased their target price on Horizon Technology Finance from $12.00 to $8.50 and set a neutral rating for the company in a research note on Tuesday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $11.78.

NASDAQ HRZN traded up $1.82 during trading hours on Tuesday, hitting $9.34. 629,500 shares of the company’s stock were exchanged, compared to its average volume of 290,592. The stock 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 1-year low of $4.51 and a 1-year high of $13.78. The firm has a market cap of $109.30 million, a price-to-earnings ratio of 6.53 and a beta of 0.79.

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

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 19th will be paid a $0.10 dividend. The ex-dividend date is Monday, May 18th. This represents a $1.20 dividend on an annualized basis and a yield of 12.85%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently 78.95%.

In related news, Director Joseph J. Savage bought 8,000 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were bought at an average price of $7.02 per share, for a total transaction of $56,160.00. Also, CEO Robert D. Jr. Pomeroy bought 4,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,101,853.50. The disclosure for this purchase can be found here. Insiders acquired 20,421 shares of company stock valued at $162,240 in the last three months. Insiders own 1.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of HRZN. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Horizon Technology Finance by 6.3% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,161 shares of the investment management company’s stock worth $208,000 after acquiring an additional 961 shares during the period. Eqis Capital Management Inc. lifted its holdings in Horizon Technology Finance by 8.7% during the fourth quarter. Eqis Capital Management Inc. now owns 15,691 shares of the investment management company’s stock worth $203,000 after acquiring an additional 1,258 shares during the period. California Public Employees Retirement System lifted its holdings in Horizon Technology Finance by 8.8% during the fourth quarter. California Public Employees Retirement System now owns 21,000 shares of the investment management company’s stock worth $272,000 after acquiring an additional 1,700 shares during the period. Virtus ETF Advisers LLC lifted its holdings in Horizon Technology Finance by 2.2% during the fourth quarter. Virtus ETF Advisers LLC now owns 172,780 shares of the investment management company’s stock worth $2,234,000 after acquiring an additional 3,767 shares during the period. Finally, Great West Life Assurance Co. Can bought a new stake in Horizon Technology Finance during the fourth quarter worth $57,000. Institutional investors own 10.66% of the company’s stock.

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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