Keefe, Bruyette & Woods Cuts Horizon Technology Finance (NASDAQ:HRZN) Price Target to $8.00

Horizon Technology Finance (NASDAQ:HRZN) had its target price reduced by Keefe, Bruyette & Woods from $9.00 to $8.00 in a report released on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the investment management company’s stock.

Several other equities research analysts have also recently issued reports on HRZN. StockNews.com cut Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Compass Point raised Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price objective for the company in a research note on Tuesday, December 17th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $8.94.

Horizon Technology Finance Stock Up 5.2 %

HRZN stock opened at $9.27 on Friday. The business has a fifty day moving average of $9.39 and a two-hundred day moving average of $9.79. The stock has a market cap of $373.72 million, a price-to-earnings ratio of -77.25 and a beta of 1.18. Horizon Technology Finance has a 52-week low of $8.46 and a 52-week high of $12.63.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, March 4th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). The business had revenue of $23.55 million for the quarter, compared to analyst estimates 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, sell-side analysts anticipate that Horizon Technology Finance will post 1.38 EPS for the current year.

Horizon Technology Finance Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.32 annualized dividend and a yield of 14.24%. Horizon Technology Finance’s payout ratio is -1,100.00%.

Insider Buying and Selling

In related news, Director Michael Balkin bought 20,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $8.53 per share, with a total value of $170,600.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $170,600. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC acquired a new position in Horizon Technology Finance during the 3rd quarter worth $25,000. Private Trust Co. NA acquired a new position in Horizon Technology Finance during the 3rd quarter worth $38,000. Quantbot Technologies LP acquired a new position in Horizon Technology Finance during the 3rd quarter worth $99,000. JPMorgan Chase & Co. purchased a new stake in Horizon Technology Finance during the 3rd quarter worth about $117,000. Finally, Crew Capital Management Ltd. purchased a new stake in Horizon Technology Finance during the 4th quarter worth about $99,000. 4.94% of the stock is owned by institutional investors and hedge funds.

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.