Horizon Technology Finance (NASDAQ:HRZN) Price Target Cut to $13.00 by Analysts at Maxim Group

Horizon Technology Finance (NASDAQ:HRZN) had its price objective decreased by Maxim Group from $15.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. Maxim Group currently has a buy rating on the investment management company’s stock.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods decreased their price objective on Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating for the company in a research note on Friday. 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. Finally, StockNews.com lowered Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.75.

Horizon Technology Finance Stock Performance

Shares of HRZN opened at $9.39 on Monday. The stock has a fifty day moving average price of $9.40 and a two-hundred day moving average price of $9.78. Horizon Technology Finance has a 52-week low of $8.46 and a 52-week high of $12.63. The company has a market cap of $378.56 million, a price-to-earnings ratio of -78.25 and a beta of 1.18.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, March 4th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The firm had revenue of $23.55 million for 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, research analysts predict that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a yield of 14.06%. The ex-dividend date is Monday, March 17th. Horizon Technology Finance’s dividend payout ratio is currently -1,100.00%.

Insider Buying and Selling at Horizon Technology Finance

In other news, Director Michael Balkin purchased 20,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $8.53 per share, for a total transaction of $170,600.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $170,600. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Green Alpha Advisors LLC grew its stake in shares of Horizon Technology Finance by 28.1% in the 4th quarter. Green Alpha Advisors LLC now owns 290,447 shares of the investment management company’s stock valued at $2,611,000 after buying an additional 63,709 shares during the period. TrueMark Investments LLC bought a new position in shares of Horizon Technology Finance during the 4th quarter worth approximately $1,882,000. Trexquant Investment LP lifted its position 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 buying an additional 131,505 shares in the last quarter. LPL Financial LLC lifted its position in shares of Horizon Technology Finance by 9.7% during the 4th quarter. LPL Financial LLC now owns 176,871 shares of the investment management company’s stock worth $1,590,000 after buying an additional 15,670 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Horizon Technology Finance in the 4th quarter worth approximately $1,288,000. 4.94% of the stock is owned by institutional investors.

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.