Maxim Group Lowers Horizon Technology Finance (NASDAQ:HRZN) Price Target to $13.00

Horizon Technology Finance (NASDAQ:HRZN) had its price objective dropped by investment analysts at Maxim Group from $15.00 to $13.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the investment management company’s stock. Maxim Group’s price target suggests a potential upside of 39.56% from the company’s previous close.

Other equities analysts have also issued reports about the company. 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 report on Tuesday, December 17th. Keefe, Bruyette & Woods reduced their price target on Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating for the company in a research report on Friday. Finally, StockNews.com lowered Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Three 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.75.

Horizon Technology Finance Stock Performance

Shares of NASDAQ HRZN traded up $0.05 during midday trading on Monday, hitting $9.32. The company’s stock had a trading volume of 292,385 shares, compared to its average volume of 341,815. Horizon Technology Finance has a 1-year low of $8.46 and a 1-year high of $12.63. The firm’s fifty day moving average price is $9.39 and its 200-day moving average price is $9.79. The firm has a market cap of $375.53 million, a P/E ratio of -77.63 and a beta of 1.18.

Horizon Technology Finance (NASDAQ:HRZN) last issued 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 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 earnings per share for the current fiscal year.

Insider Transactions at Horizon Technology Finance

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

Institutional Trading of Horizon Technology Finance

A number of hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new stake in shares of Horizon Technology Finance during the third quarter valued at approximately $25,000. Private Trust Co. NA purchased a new position in Horizon Technology Finance during the 3rd quarter worth approximately $38,000. Quantbot Technologies LP acquired a new stake in Horizon Technology Finance during the 3rd quarter valued at $99,000. Crew Capital Management Ltd. purchased a new stake in shares of Horizon Technology Finance in the fourth quarter valued at $99,000. Finally, Mutual Advisors LLC acquired a new stake in shares of Horizon Technology Finance in the fourth quarter worth $106,000. 4.94% of the stock is owned by hedge funds and other 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.