Horizon Technology Finance (NASDAQ:HRZN) Price Target Cut to $7.50 by Analysts at Keefe, Bruyette & Woods

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) had its target price dropped by analysts at Keefe, Bruyette & Woods from $8.00 to $7.50 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "underperform" rating on the investment management company's stock. Keefe, Bruyette & Woods' price target suggests a potential downside of 8.76% from the company's previous close.

A number of other research analysts have also recently commented on the company. StockNews.com cut Horizon Technology Finance from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Maxim Group cut their target price on shares of Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Finally, Compass Point raised shares of Horizon Technology Finance from a "sell" rating to a "neutral" rating and set a $8.25 price target on the stock in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $9.44.

Horizon Technology Finance Stock Up 1.9 %

HRZN traded up $0.15 during trading on Tuesday, hitting $8.22. 330,310 shares of the company traded hands, compared to its average volume of 347,833. Horizon Technology Finance has a one year low of $7.55 and a one year high of $12.63. The stock's fifty day moving average is $9.25 and its 200 day moving average is $9.43. The firm has a market cap of $331.39 million, a P/E ratio of -68.50 and a beta of 1.08.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last released its earnings results on Tuesday, March 4th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.06). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The company had revenue of $23.55 million for the quarter, compared to the consensus estimate of $25.69 million. On average, equities research analysts forecast that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Horizon Technology Finance

A number of large investors have recently modified their holdings of the company. Crew Capital Management Ltd. purchased a new stake in Horizon Technology Finance in the 4th quarter worth approximately $99,000. Mutual Advisors LLC purchased a new stake in shares of Horizon Technology Finance in the fourth quarter worth $106,000. JPMorgan Chase & Co. bought a new stake in Horizon Technology Finance during the third quarter valued at $117,000. Quantbot Technologies LP grew its position in Horizon Technology Finance by 43.0% during the fourth quarter. Quantbot Technologies LP now owns 13,290 shares of the investment management company's stock worth $119,000 after buying an additional 3,996 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Horizon Technology Finance in the 4th quarter worth about $124,000. 4.94% of the stock is currently owned by institutional investors.

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.