Horizon Technology Finance (NASDAQ:HRZN) Stock Lifted to Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded Horizon Technology Finance from “hold” to “buy,” while the broader analyst consensus remains “hold,” with a $4.65 average price target.
• HRZN opened at $3.72, near its 52-week low of $3.70; several analysts recently lowered their price targets, including UBS to $3.75 and B. Riley to $4.50.
• The company reported quarterly EPS of $0.18, in line with estimates, but revenue of $24.06 million fell short of the $25.12 million consensus.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently weighed in on HRZN. Compass Point assumed coverage on Horizon Technology Finance in a report on Thursday, August 27th. They set a "buy" rating and a $5.50 price target for the company. B. Riley Financial dropped 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 note on Tuesday. UBS Group dropped their price objective on shares of Horizon Technology Finance from $4.50 to $3.75 and set a "neutral" rating on the stock in a research note on Tuesday. Oppenheimer cut 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 report on Friday, August 7th. Finally, Keefe, Bruyette & Woods reduced their target price 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 investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $4.65.

Horizon Technology Finance Stock Down 1.1%

HRZN opened at $3.72 on Friday. The business has a 50 day moving average price of $4.36 and a two-hundred day moving average price of $4.67. The company has a market cap of $242.28 million, a PE ratio of -4.96 and a beta of 1.00. Horizon Technology Finance has a 52 week low of $3.70 and a 52 week high of $6.78.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last announced its earnings results on Thursday, November 5th. The investment management company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $24.06 million for the quarter, compared to the consensus estimate of $25.12 million. Horizon Technology Finance had a positive return on equity of 10.31% and a negative net margin of 57.42%. As a group, sell-side analysts expect that Horizon Technology Finance will post 0.64 EPS for the current fiscal year.

Institutional Trading of Horizon Technology Finance

A number of institutional investors have recently modified their holdings of HRZN. StoneX Group Inc. acquired a new position in Horizon Technology Finance during the third quarter worth $115,000. Oppenheimer & Co. Inc. raised its position in Horizon Technology Finance by 65.4% in the third quarter. Oppenheimer & Co. Inc. now owns 20,196 shares of the investment management company's stock worth $93,000 after acquiring an additional 7,983 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Horizon Technology Finance in the second quarter worth $101,000. Squarepoint Ops LLC acquired a new stake in Horizon Technology Finance in the second quarter valued at $93,000. Finally, Baird Financial Group Inc. acquired a new stake in Horizon Technology Finance in the second quarter valued at $148,000. 4.94% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a specialty finance company that provides loans and growth capital to venture capital-backed businesses, particularly companies in the development and expansion stages. The company focuses on sectors including technology, life sciences, healthcare information and services, and sustainability. Its financing products primarily include secured loans, and it may also receive warrants or other equity-related interests as part of its investments. Horizon operates in the United States and is externally managed by Horizon Technology Finance Management LLC.

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