Raymond James Financial, Inc. Upgrades Horizon Technology Finance Corporation (HRZN) to Market Perform

Raymond James Financial, Inc. upgraded shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) from an underperform rating to a market perform rating in a report released on Thursday, November 2nd, Marketbeat reports.

Several other equities research analysts also recently commented on the company. Compass Point restated a sell rating and set a $10.00 price objective on shares of Horizon Technology Finance Corporation in a report on Thursday, July 6th. ValuEngine downgraded Horizon Technology Finance Corporation from a buy rating to a hold rating in a report on Friday, September 1st. National Securities reaffirmed a neutral rating and set a $10.00 target price (down previously from $11.00) on shares of Horizon Technology Finance Corporation in a research report on Monday, August 7th. Zacks Investment Research cut Horizon Technology Finance Corporation from a hold rating to a sell rating in a research report on Thursday, August 3rd. Finally, Maxim Group raised Horizon Technology Finance Corporation from a hold rating to a buy rating and set a $12.00 target price on the stock in a research report on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Horizon Technology Finance Corporation has a consensus rating of Hold and a consensus target price of $10.75.

Shares of Horizon Technology Finance Corporation (HRZN) traded up $0.03 during mid-day trading on Thursday, hitting $11.27. The stock had a trading volume of 43,700 shares, compared to its average volume of 56,616. Horizon Technology Finance Corporation has a 12-month low of $9.66 and a 12-month high of $11.75. The firm has a market capitalization of $129.46, a price-to-earnings ratio of 9.45 and a beta of 0.85.

Horizon Technology Finance Corporation (NASDAQ:HRZN) last issued its earnings results on Tuesday, October 31st. The investment management company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.04. The business had revenue of $6.77 million during the quarter, compared to the consensus estimate of $6.39 million. Horizon Technology Finance Corporation had a return on equity of 9.96% and a net margin of 24.46%. sell-side analysts forecast that Horizon Technology Finance Corporation will post 1.12 earnings per share for the current fiscal year.

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The company also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, January 22nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, January 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.65%. Horizon Technology Finance Corporation’s dividend payout ratio is presently 210.53%.

A number of hedge funds and other institutional investors have recently made changes to their positions in HRZN. West Family Investments Inc. boosted its holdings in shares of Horizon Technology Finance Corporation by 49.0% in the 2nd quarter. West Family Investments Inc. now owns 158,628 shares of the investment management company’s stock worth $1,866,000 after purchasing an additional 52,156 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Horizon Technology Finance Corporation by 8.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 349,600 shares of the investment management company’s stock worth $3,884,000 after purchasing an additional 27,218 shares in the last quarter. Investment Centers of America Inc. purchased a new position in shares of Horizon Technology Finance Corporation in the 2nd quarter worth about $136,000. WFG Advisors LP boosted its holdings in shares of Horizon Technology Finance Corporation by 30.8% in the 2nd quarter. WFG Advisors LP now owns 24,950 shares of the investment management company’s stock worth $283,000 after purchasing an additional 5,878 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Horizon Technology Finance Corporation by 25.8% in the 2nd quarter. Royal Bank of Canada now owns 20,752 shares of the investment management company’s stock worth $235,000 after purchasing an additional 4,252 shares in the last quarter. Institutional investors and hedge funds own 18.38% of the company’s stock.

Horizon Technology Finance Corporation Company Profile

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.

Analyst Recommendations for Horizon Technology Finance Corporation (NASDAQ:HRZN)

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