Horizon Technology Finance (NASDAQ:HRZN) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.50 and traded as high as $4.73. Horizon Technology Finance shares last traded at $4.53, with a volume of 754,597 shares traded.

Wall Street Analyst Weigh In

HRZN has been the subject of several recent analyst reports. UBS Group raised their target price on Horizon Technology Finance from $4.25 to $4.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Compass Point initiated coverage on Horizon Technology Finance in a research note on Thursday, August 27th. They issued a “buy” rating and a $5.50 price target on the stock. Weiss Ratings downgraded shares of Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods lowered their price objective on shares of Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating for the company in a research note on Friday, August 21st. Finally, Oppenheimer dropped their target price on shares of Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Horizon Technology Finance has an average rating of “Hold” and an average price target of $5.00.

Horizon Technology Finance Trading Down 1.2%

The business has a fifty day simple moving average of $4.70 and a 200 day simple moving average of $4.49. The stock has a market capitalization of $312.71 million, a P/E ratio of 12.96 and a beta of 0.99.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, August 4th. The investment management company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company had revenue of $25.05 million for the quarter, compared to the consensus estimate of $25.22 million. Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%. As a group, research analysts forecast that Horizon Technology Finance Corporation will post 0.63 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, November 17th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, November 17th. This represents a c) annualized dividend and a yield of 15.4%. Horizon Technology Finance’s payout ratio is 200.00%.

Hedge Funds Weigh In On Horizon Technology Finance

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC bought a new position in Horizon Technology Finance in the 2nd quarter valued at $101,000. Squarepoint Ops LLC bought a new position in shares of Horizon Technology Finance during the 2nd quarter valued at approximately $93,000. Baird Financial Group Inc. purchased a new stake in shares of Horizon Technology Finance during the 2nd quarter worth approximately $148,000. Corient Private Wealth LP bought a new stake in shares of Horizon Technology Finance in the 2nd quarter worth approximately $422,000. Finally, HighTower Advisors LLC purchased a new position in Horizon Technology Finance in the second quarter valued at approximately $61,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a specialty finance company that operates as a business development company. It provides secured venture loans and other forms of debt financing to emerging-growth companies backed by venture capital or private equity investors.

The company primarily serves businesses in the technology, life sciences, healthcare information technology, and sustainability sectors. Its financing solutions may support product development, capital expenditures, acquisitions, working capital, and other corporate needs.