Horizon Technology Finance (NASDAQ:HRZN) Price Target Cut to $4.50 by Analysts at B. Riley Financial

Key Points

• B. Riley cut Horizon Technology Finance’s price target from $5.00 to $4.50 and maintained a neutral rating, implying 18.6% upside from the then-current share price.
• Analyst sentiment is mostly neutral: the stock has one Buy, five Hold, and one Sell rating, with a consensus price target of $4.80.
• Shares fell 2.0% to $3.79 on Tuesday. Quarterly EPS of $0.18 matched estimates, while revenue of $24.06 million came in below analysts’ $25.12 million forecast.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) had its target price lowered by equities research analysts at B. Riley Financial from $5.00 to $4.50 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the investment management company's stock. B. Riley Financial's price objective indicates a potential upside of 18.61% from the stock's current price.

Several other equities research analysts have also recently issued reports on the company. UBS Group raised their price objective on Horizon Technology Finance from $4.25 to $4.50 and gave the stock a "neutral" rating in a report on Tuesday, September 1st. Weiss Ratings downgraded Horizon Technology Finance from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, August 19th. Compass Point began 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. Oppenheimer lowered their price target on Horizon Technology Finance from $6.00 to $5.00 and set a "market perform" rating for the company in a report on Friday, August 7th. Finally, Keefe, Bruyette & Woods dropped 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. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $4.80.

Horizon Technology Finance Trading Down 2.0%

Shares of Horizon Technology Finance stock traded down $0.08 during trading hours on Tuesday, hitting $3.79. 250,117 shares of the company were exchanged, compared to its average volume of 814,691. Horizon Technology Finance has a 1 year low of $3.70 and a 1 year high of $6.85. The business has a 50-day moving average of $4.44 and a 200-day moving average of $4.73. The stock has a market capitalization of $254.31 million, a price-to-earnings ratio of -5.05 and a beta of 1.00.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Ausdal Financial Partners Inc. acquired a new position in Horizon Technology Finance in the second quarter valued at $54,000. Sanctuary Advisors LLC acquired a new stake in Horizon Technology Finance during the first quarter worth about $50,000. Chapin Davis Inc. purchased a new position in shares of Horizon Technology Finance in the 2nd quarter worth about $60,000. HighTower Advisors LLC purchased a new position in shares of Horizon Technology Finance in the 2nd quarter worth about $61,000. Finally, Leading Edge Financial Planning LLC acquired a new position in shares of Horizon Technology Finance in the 2nd quarter valued at about $79,000. 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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