Horizon Technology Finance Corporation (NASDAQ:HRZN) Stock Has Average Target Price of $5.00

Horizon Technology Finance Corporation (NASDAQ:HRZN) has earned an average rating of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $5.00.

Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods cut their price target on shares of Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating on the stock in a report on Friday, August 21st. UBS Group boosted their price objective on shares of Horizon Technology Finance from $4.25 to $4.50 and gave the company a “neutral” rating in a research report on Tuesday, September 1st. Oppenheimer lowered their price objective on shares of Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Friday, August 7th. Finally, Compass Point started coverage on shares of Horizon Technology Finance in a report on Thursday, August 27th. They set a “buy” rating and a $5.50 target price for the company.

Horizon Technology Finance Price Performance

Shares of HRZN stock opened at $4.63 on Friday. The business has a 50-day moving average of $4.70 and a 200 day moving average of $4.47. Horizon Technology Finance has a 1-year low of $3.80 and a 1-year high of $6.85. The stock has a market capitalization of $310.35 million, a PE ratio of 12.86 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 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The company had revenue of $25.05 million during the quarter, compared to analysts’ expectations of $25.22 million. Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%. Analysts anticipate that Horizon Technology Finance will post 0.63 EPS for the current year.

Horizon Technology Finance Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.72 dividend on an annualized basis and a yield of 15.6%. Horizon Technology Finance’s dividend payout ratio is presently 200.00%.

Institutional Investors Weigh In On Horizon Technology Finance

A number of large investors have recently made changes to their positions in HRZN. Green Alpha Advisors LLC bought a new stake in shares of Horizon Technology Finance during the 2nd quarter valued at about $2,033,000. Legal & General Group Plc purchased a new position in shares of Horizon Technology Finance during the second quarter valued at about $1,821,000. Bank of America Corp DE bought a new position in Horizon Technology Finance in the second quarter worth about $1,068,000. BlackRock Inc. bought a new position in Horizon Technology Finance in the second quarter worth about $856,000. Finally, Corient Private Wealth LP purchased a new stake in Horizon Technology Finance in the second quarter worth about $423,000. 4.94% of the stock is currently owned by institutional investors.

About Horizon Technology Finance

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.