Horizon Technology Finance (NASDAQ:HRZN) Given New $3.75 Price Target at UBS Group

Key Points

• UBS cut Horizon Technology Finance’s price target from $4.50 to $3.75 and maintained a neutral rating; the new target is about 0.27% below the stock’s then-current price.
• Analyst sentiment is broadly cautious: five analysts rate HRZN Hold, one Buy, and one Sell, with a consensus price target of $4.65.
• Shares fell 2.8% to $3.76 in Tuesday trading. The company matched quarterly EPS estimates at $0.18 but reported revenue of $24.06 million, below the $25.12 million consensus.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) had its price target lowered by analysts at UBS Group from $4.50 to $3.75 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the investment management company's stock. UBS Group's price objective indicates a potential downside of 0.27% from the stock's current price.

A number of other research firms have also recently commented on HRZN. Oppenheimer dropped their price target 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. B. Riley Financial reduced their price objective on shares of Horizon Technology Finance from $5.00 to $4.50 and set a "neutral" rating on the stock in a research report on Tuesday. Weiss Ratings lowered 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 decreased 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, Compass Point initiated coverage on Horizon Technology Finance in a research report on Thursday, August 27th. They set a "buy" rating and a $5.50 target price for the company. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $4.65.

Horizon Technology Finance Trading Down 2.8%

NASDAQ:HRZN traded down $0.11 during midday trading on Tuesday, hitting $3.76. 500,400 shares of the company traded hands, compared to its average volume of 815,677. The firm's fifty day moving average is $4.44 and its 200-day moving average is $4.73. Horizon Technology Finance has a 12-month low of $3.70 and a 12-month high of $6.85. The firm has a market capitalization of $252.03 million, a P/E ratio of -5.01 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The investment management company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%. The company had revenue of $24.06 million during the quarter, compared to the consensus estimate of $25.12 million. On average, research analysts expect that Horizon Technology Finance will post 0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Horizon Technology Finance

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

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation NASDAQ: HRZN is a specialty finance company that has elected to be regulated as a business development company. It provides secured venture loans to development-stage companies backed by venture capital or private equity investors. The company primarily finances businesses in the technology, life sciences, healthcare information and sustainability sectors. Its lending solutions are designed to support needs such as product development, commercialization, acquisitions, working capital and other corporate purposes.

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