Horizon Technology Finance (NASDAQ:HRZN) Lowered to “Sell” at ValuEngine

ValuEngine cut shares of Horizon Technology Finance (NASDAQ:HRZN) from a hold rating to a sell rating in a report issued on Thursday, ValuEngine reports.

Separately, National Securities reiterated a neutral rating and set a $11.00 price target on shares of Horizon Technology Finance in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $11.88.

HRZN stock remained flat at $$12.10 during trading on Thursday. The company’s stock had a trading volume of 27,359 shares, compared to its average volume of 57,732. Horizon Technology Finance has a one year low of $10.05 and a one year high of $13.48. The company’s fifty day moving average price is $11.95. The stock has a market capitalization of $163.88 million, a PE ratio of 9.38 and a beta of 0.68.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.07. Horizon Technology Finance had a return on equity of 11.02% and a net margin of 42.51%. The company had revenue of $10.47 million during the quarter.

In other news, CEO Robert D. Jr. Pomeroy acquired 4,500 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $11.70 per share, for a total transaction of $52,650.00. Following the completion of the acquisition, the chief executive officer now directly owns 86,077 shares in the company, valued at approximately $1,007,100.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in Horizon Technology Finance in the first quarter worth $57,000. Marshall Wace LLP purchased a new position in Horizon Technology Finance in the first quarter worth $961,000. Marshall Wace North America L.P. purchased a new position in Horizon Technology Finance in the first quarter worth $62,000. Finally, CWM LLC purchased a new position in Horizon Technology Finance in the second quarter worth $104,000. Institutional investors and hedge funds own 10.04% of the company’s stock.

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, and cleantech industries.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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