Maxim Group Has Lowered Expectations for Horizon Technology Finance (NASDAQ:HRZN) Stock Price

Key Points

• Maxim Group has lowered its price target for Horizon Technology Finance from $10.00 to $7.50, while still maintaining a "buy" rating on the stock.
• Other analysts have given mixed ratings, with Compass Point downgrading the stock to "sell" with a $6.50 target, while UBS raised its target to $8.00.
• Horizon Technology Finance reported earnings per share of $0.28 for the last quarter, matching analysts' expectations, but has a negative net margin of 48.76%.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) had its price target cut by investment analysts at Maxim Group from $10.00 to $7.50 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the investment management company's stock. Maxim Group's price target would indicate a potential upside of 3.23% from the stock's current price.

Several other research firms have also recently commented on HRZN. Compass Point cut Horizon Technology Finance from a "neutral" rating to a "sell" rating and set a $6.50 price target on the stock. in a research note on Wednesday, April 30th. B. Riley started coverage on Horizon Technology Finance in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $7.00 target price for the company. Finally, UBS Group raised their target price on Horizon Technology Finance from $7.50 to $8.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $7.30.

Horizon Technology Finance Trading Up 1.3%

NASDAQ HRZN traded up $0.10 on Monday, reaching $7.27. 424,485 shares of the company were exchanged, compared to its average volume of 458,820. The business's fifty day moving average price is $7.68 and its 200 day moving average price is $8.36. The stock has a market capitalization of $309.13 million, a P/E ratio of -6.32 and a beta of 0.99. Horizon Technology Finance has a fifty-two week low of $6.77 and a fifty-two week high of $11.47.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last released its earnings results on Thursday, August 7th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.28. Horizon Technology Finance had a positive return on equity of 13.54% and a negative net margin of 48.76%. Equities research analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Institutional Trading of Horizon Technology Finance

A number of institutional investors have recently modified their holdings of the business. Green Alpha Advisors LLC raised its holdings in Horizon Technology Finance by 8.1% in the second quarter. Green Alpha Advisors LLC now owns 387,726 shares of the investment management company's stock worth $2,792,000 after buying an additional 28,984 shares during the last quarter. TrueMark Investments LLC raised its holdings 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 valued at $2,567,000 after purchasing an additional 63,134 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Horizon Technology Finance by 9.7% during the fourth quarter. LPL Financial LLC now owns 176,871 shares of the investment management company's stock valued at $1,590,000 after purchasing an additional 15,670 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Horizon Technology Finance during the fourth quarter valued at approximately $1,288,000. Finally, Virtus ETF Advisers LLC raised its holdings in shares of Horizon Technology Finance by 66.0% during the fourth quarter. Virtus ETF Advisers LLC now owns 124,433 shares of the investment management company's stock valued at $1,119,000 after purchasing an additional 49,486 shares during the last quarter. 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 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.

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