Keefe, Bruyette & Woods Has Lowered Expectations for Horizon Technology Finance (NASDAQ:HRZN) Stock Price

Horizon Technology Finance (NASDAQ:HRZN) had its price target reduced by Keefe, Bruyette & Woods from $9.00 to $8.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “underperform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 12.89% from the company’s previous close.

A number of other brokerages also recently commented on HRZN. StockNews.com downgraded shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price on the stock in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $8.94.

Horizon Technology Finance Price Performance

NASDAQ:HRZN traded up $0.37 during trading hours on Friday, reaching $9.18. 196,653 shares of the company traded hands, compared to its average volume of 341,345. The firm’s 50-day moving average is $9.39 and its 200-day moving average is $9.83. The stock has a market cap of $366.22 million, a P/E ratio of -76.95 and a beta of 1.22. Horizon Technology Finance has a 1-year low of $8.46 and a 1-year high of $12.63.

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

Insider Activity

In other Horizon Technology Finance news, Director Michael Balkin bought 20,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $8.53 per share, with a total value of $170,600.00. Following the purchase, the director now owns 20,000 shares in the company, valued at approximately $170,600. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.34% of the company’s stock.

Institutional Trading of Horizon Technology Finance

Large investors have recently added to or reduced their stakes in the stock. Green Alpha Advisors LLC grew its stake in shares of Horizon Technology Finance by 28.1% in 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 buying an additional 63,709 shares in the last quarter. TrueMark Investments LLC purchased a new position in Horizon Technology Finance in the 4th quarter worth approximately $1,882,000. Trexquant Investment LP grew its position in Horizon Technology Finance by 196.4% in the fourth quarter. Trexquant Investment LP now owns 198,451 shares of the investment management company’s stock valued at $1,784,000 after acquiring an additional 131,505 shares in the last quarter. LPL Financial LLC raised its stake 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 period. Finally, Marshall Wace LLP purchased a new stake in shares of Horizon Technology Finance during the fourth quarter valued at approximately $1,288,000. 4.94% of the stock is currently 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.