Horizon Technology Finance (NASDAQ:HRZN) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded Horizon Technology Finance from “strong sell” to “hold,” adding to a broader trend of more cautious analyst sentiment on the stock.
• Analyst opinions remain mixed but mostly neutral: the stock now has a consensus rating of “Hold” with an average price target of $6.10, while recent firms have trimmed targets or shifted to market-perform/neutral views.
• Horizon Technology Finance reported EPS of $0.19, matching expectations, while shares traded around $4.54; the stock remains well below its 52-week high of $8.46 and below its 200-day average.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities analysts also recently issued reports on HRZN. Keefe, Bruyette & Woods upgraded Horizon Technology Finance from an "underperform" rating to a "market perform" rating and set a $5.00 price target on the stock in a research report on Thursday, March 5th. Weiss Ratings reiterated a "sell (d)" rating on shares of Horizon Technology Finance in a research report on Thursday, January 22nd. B. Riley Financial dropped their target price on shares of Horizon Technology Finance from $7.00 to $5.50 and set a "neutral" rating on the stock in a research report on Friday, March 6th. Oppenheimer dropped their target price on shares of Horizon Technology Finance from $7.00 to $6.00 and set a "market perform" rating on the stock in a research report on Tuesday, March 24th. Finally, Wall Street Zen lowered shares of Horizon Technology Finance from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. One equities research 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $6.10.

Horizon Technology Finance Trading Up 0.7%

Shares of HRZN stock opened at $4.54 on Thursday. The company has a market capitalization of $217.06 million, a P/E ratio of 10.56 and a beta of 0.99. The business's 50 day moving average is $4.48 and its two-hundred day moving average is $5.81. Horizon Technology Finance has a 12-month low of $3.80 and a 12-month high of $8.46.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The investment management company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.19. The company had revenue of ($6.19) million for the quarter, compared to the consensus estimate of $21.09 million. Horizon Technology Finance had a return on equity of 13.63% and a net margin of 22.55%. On average, research analysts predict that Horizon Technology Finance will post 0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Horizon Technology Finance

Several hedge funds and other institutional investors have recently modified their holdings of the business. Green Alpha Advisors LLC lifted its stake in shares of Horizon Technology Finance by 11.8% in the fourth quarter. Green Alpha Advisors LLC now owns 558,944 shares of the investment management company's stock worth $3,605,000 after buying an additional 58,915 shares in the last quarter. Eagle Point Credit Management LLC purchased a new position in shares of Horizon Technology Finance in the fourth quarter worth about $2,385,000. Millennium Management LLC purchased a new position in shares of Horizon Technology Finance in the third quarter worth about $1,099,000. UBS Group AG lifted its stake in shares of Horizon Technology Finance by 40.3% in the third quarter. UBS Group AG now owns 106,964 shares of the investment management company's stock worth $652,000 after buying an additional 30,716 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new position in shares of Horizon Technology Finance in the third quarter worth about $435,000. 4.94% of the stock is owned by hedge funds and other institutional investors.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance's investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.

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