Equities researchers at Aegis began coverage on shares of Horizon Technology Finance (NASDAQ:HRZN) in a research note issued on Monday, January 6th, MarketBeat reports. The brokerage set a “hold” rating and a $13.10 price target on the investment management company’s stock. Aegis’ price objective would indicate a potential upside of 2.99% from the company’s current price.
Several other analysts have also commented on the stock. ValuEngine upgraded shares of Horizon Technology Finance from a “sell” rating to a “hold” rating in a report on Saturday, December 7th. Janney Montgomery Scott initiated coverage on shares of Horizon Technology Finance in a report on Monday, October 28th. They issued a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $12.37.
Shares of Horizon Technology Finance stock traded down $0.02 during trading on Monday, reaching $12.72. 110,405 shares of the stock were exchanged, compared to its average volume of 247,719. The stock’s fifty day moving average is $12.84 and its 200 day moving average is $12.29. The firm has a market cap of $185.62 million, a price-to-earnings ratio of 10.10 and a beta of 0.68. Horizon Technology Finance has a 1 year low of $11.50 and a 1 year high of $13.78.
Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, October 29th. The investment management company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.12. Horizon Technology Finance had a net margin of 41.04% and a return on equity of 11.68%. The company had revenue of $11.38 million during the quarter. On average, analysts predict that Horizon Technology Finance will post 1.35 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC purchased a new position in shares of Horizon Technology Finance during the second quarter valued at approximately $1,906,000. Wells Fargo & Company MN increased its position in shares of Horizon Technology Finance by 11.0% during the second quarter. Wells Fargo & Company MN now owns 31,961 shares of the investment management company’s stock valued at $377,000 after acquiring an additional 3,169 shares in the last quarter. Royal Bank of Canada increased its position in shares of Horizon Technology Finance by 5.8% during the second quarter. Royal Bank of Canada now owns 22,627 shares of the investment management company’s stock valued at $267,000 after acquiring an additional 1,250 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Horizon Technology Finance by 8.8% during the fourth quarter. California Public Employees Retirement System now owns 21,000 shares of the investment management company’s stock valued at $272,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Advantage Investment Management LLC bought a new stake in shares of Horizon Technology Finance during the third quarter valued at approximately $238,000. Hedge funds and other institutional investors own 10.46% 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, and cleantech industries.
