Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives Average Rating of “Reduce” from Analysts

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have been given a consensus rating of “Reduce” by the six brokerages that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $7.00.

A number of research analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of Horizon Technology Finance from $6.25 to $6.50 and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Technology Finance in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Horizon Technology Finance from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st.

Hedge Funds Weigh In On Horizon Technology Finance

Several institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Horizon Technology Finance during the 2nd quarter worth about $411,000. Allworth Financial LP purchased a new position in shares of Horizon Technology Finance in the 2nd quarter worth about $73,000. Green Alpha Advisors LLC lifted its stake in shares of Horizon Technology Finance by 29.0% in the 3rd quarter. Green Alpha Advisors LLC now owns 500,029 shares of the investment management company’s stock valued at $3,050,000 after purchasing an additional 112,303 shares in the last quarter. Virtus Investment Advisers LLC grew its holdings in shares of Horizon Technology Finance by 25.6% during the 2nd quarter. Virtus Investment Advisers LLC now owns 177,768 shares of the investment management company’s stock worth $1,280,000 after purchasing an additional 36,226 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Horizon Technology Finance during the 2nd quarter worth approximately $77,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Stock Up 1.7%

Horizon Technology Finance stock opened at $6.67 on Wednesday. The firm has a market capitalization of $308.95 million, a PE ratio of -9.96 and a beta of 0.98. Horizon Technology Finance has a 52 week low of $5.70 and a 52 week high of $9.99. The firm’s 50-day simple moving average is $6.57 and its 200 day simple moving average is $6.61.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.