Compass Point Downgrades Horizon Technology Finance (NASDAQ:HRZN) to Sell

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) was downgraded by equities researchers at Compass Point from a "neutral" rating to a "sell" rating in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $6.50 price objective on the investment management company's stock. Compass Point's price objective would suggest a potential downside of 11.92% from the company's current price.

A number of other analysts have also recently commented on the stock. Maxim Group cut their price target on shares of Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. StockNews.com cut Horizon Technology Finance from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. UBS Group dropped their price target on Horizon Technology Finance from $9.00 to $8.25 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Horizon Technology Finance from $8.00 to $7.50 and set an "underperform" rating for the company in a research report on Tuesday, April 8th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Horizon Technology Finance has an average rating of "Hold" and a consensus target price of $8.85.

Horizon Technology Finance Stock Up 3.4 %

Shares of NASDAQ HRZN traded up $0.24 during trading on Wednesday, reaching $7.38. The company had a trading volume of 626,554 shares, compared to its average volume of 368,891. Horizon Technology Finance has a 12 month low of $7.12 and a 12 month high of $12.63. The stock has a market cap of $297.65 million, a P/E ratio of -61.50 and a beta of 1.08. The company's fifty day moving average price is $8.82 and its 200-day moving average price is $9.20.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last released its earnings results on Tuesday, April 29th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.06). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The firm had revenue of $24.52 million for the quarter, compared to analyst estimates of $26.67 million. As a group, equities analysts predict that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Institutional Investors Weigh In On Horizon Technology Finance

Several hedge funds and other institutional investors have recently modified their holdings of HRZN. Green Alpha Advisors LLC grew its position in Horizon Technology Finance by 23.5% in the 1st quarter. Green Alpha Advisors LLC now owns 358,742 shares of the investment management company's stock valued at $3,379,000 after purchasing an additional 68,295 shares during the period. TrueMark Investments LLC increased its position in shares of Horizon Technology Finance by 30.2% during the first quarter. TrueMark Investments LLC now owns 272,512 shares of the investment management company's stock worth $2,567,000 after acquiring an additional 63,134 shares in the last quarter. Trexquant Investment LP increased its position in shares of Horizon Technology Finance by 196.4% during the fourth quarter. Trexquant Investment LP now owns 198,451 shares of the investment management company's stock worth $1,784,000 after acquiring an additional 131,505 shares in the last quarter. LPL Financial LLC lifted its position in Horizon Technology Finance by 9.7% in the 4th quarter. LPL Financial LLC now owns 176,871 shares of the investment management company's stock valued at $1,590,000 after acquiring an additional 15,670 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Horizon Technology Finance in the 4th quarter valued at about $1,288,000. Institutional investors own 4.94% of the company's stock.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries.