Keefe, Bruyette & Woods Cuts Horizon Technology Finance (NASDAQ:HRZN) Price Target to $7.50

Horizon Technology Finance (NASDAQ:HRZN) had its price target lowered by analysts at Keefe, Bruyette & Woods from $8.00 to $7.50 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 8.03% from the company’s previous close.

A number of other research firms have also commented on HRZN. Maxim Group reduced their price objective on shares of Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 10th. StockNews.com lowered Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Finally, Compass Point upgraded Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price target on the stock in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.44.

Horizon Technology Finance Trading Up 1.1 %

HRZN stock traded up $0.09 during trading on Tuesday, hitting $8.16. The company had a trading volume of 410,002 shares, compared to its average volume of 341,449. The business has a 50 day moving average of $9.39 and a 200 day moving average of $9.52. The firm has a market capitalization of $328.77 million, a price-to-earnings ratio of -68.01 and a beta of 1.08. Horizon Technology Finance has a fifty-two week low of $7.81 and a fifty-two week high of $12.63.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, March 4th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.06). The business had revenue of $23.55 million during the quarter, compared to the consensus estimate of $25.69 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. As a group, equities analysts predict that Horizon Technology Finance will post 1.38 EPS for the current year.

Institutional Investors Weigh In On Horizon Technology Finance

Several hedge funds have recently made changes to their positions in HRZN. Green Alpha Advisors LLC increased its position in shares of Horizon Technology Finance by 28.1% during the fourth quarter. Green Alpha Advisors LLC now owns 290,447 shares of the investment management company’s stock valued at $2,611,000 after purchasing an additional 63,709 shares during the period. TrueMark Investments LLC acquired a new position in shares of Horizon Technology Finance in the 4th quarter valued at $1,882,000. Trexquant Investment LP lifted its holdings in shares of Horizon Technology Finance by 196.4% during the 4th 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 during the period. LPL Financial LLC increased its stake in Horizon Technology Finance by 9.7% in the fourth 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 during the period. Finally, Marshall Wace LLP acquired a new position in Horizon Technology Finance in the fourth quarter worth 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.