Horizon Technology Finance Corporation (NASDAQ:HRZN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, August 3rd.
According to Zacks, “Horizon Technology Finance Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company makes secured loans to development-stage companies in the technology, life science, healthcare information and services, and cleantech industries. Horizon Technology Finance Corporation is headquartered in Farmington, United States of America. “
HRZN has been the topic of a number of other reports. Maxim Group reissued a “hold” rating on shares of Horizon Technology Finance Corporation in a research note on Wednesday, August 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $11.00 target price on shares of Horizon Technology Finance Corporation in a research note on Friday, April 28th. National Securities reissued a “neutral” rating and issued a $11.00 target price on shares of Horizon Technology Finance Corporation in a research note on Monday, May 8th. Compass Point reissued a “sell” rating and issued a $10.00 target price on shares of Horizon Technology Finance Corporation in a research note on Thursday, July 6th. Finally, Raymond James Financial, Inc. reissued an “underperform” rating on shares of Horizon Technology Finance Corporation in a research note on Thursday, August 3rd. Four analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $11.00.
Horizon Technology Finance Corporation (NASDAQ HRZN) traded up 2.09% during midday trading on Thursday, hitting $10.74. The company had a trading volume of 51,288 shares. The company has a 50 day moving average price of $11.26 and a 200 day moving average price of $11.23. Horizon Technology Finance Corporation has a 1-year low of $9.64 and a 1-year high of $13.93.
Horizon Technology Finance Corporation (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, August 1st. The investment management company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.03. Horizon Technology Finance Corporation had a positive return on equity of 10.24% and a negative net margin of 6.72%. The firm had revenue of $5.88 million during the quarter, compared to analyst estimates of $6.71 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was down 35.3% on a year-over-year basis. Equities research analysts anticipate that Horizon Technology Finance Corporation will post $1.09 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its stake in Horizon Technology Finance Corporation by 2.2% in the first quarter. Wells Fargo & Company MN now owns 65,616 shares of the investment management company’s stock valued at $730,000 after buying an additional 1,414 shares during the last quarter. Guggenheim Capital LLC raised its stake in Horizon Technology Finance Corporation by 27.3% in the fourth quarter. Guggenheim Capital LLC now owns 166,046 shares of the investment management company’s stock valued at $1,748,000 after buying an additional 35,572 shares during the last quarter. LSV Asset Management raised its stake in Horizon Technology Finance Corporation by 1.3% in the first quarter. LSV Asset Management now owns 191,000 shares of the investment management company’s stock valued at $2,125,000 after buying an additional 2,500 shares during the last quarter. Nwam LLC purchased a new stake in Horizon Technology Finance Corporation during the first quarter valued at approximately $174,000. Finally, UBS Group AG raised its stake in Horizon Technology Finance Corporation by 18.5% in the first quarter. UBS Group AG now owns 370,154 shares of the investment management company’s stock valued at $4,120,000 after buying an additional 57,715 shares during the last quarter. 17.40% of the stock is currently owned by hedge funds and other institutional investors.
About Horizon Technology Finance Corporation
Horizon Technology Finance Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to maximize investment portfolio’s total return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments.
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