Horizon Technology Finance Corp (NASDAQ:HRZN)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.01 and traded as high as $12.44. Horizon Technology Finance shares last traded at $12.39, with a volume of 3,235 shares changing hands.
A number of brokerages have weighed in on HRZN. Janney Montgomery Scott began coverage on shares of Horizon Technology Finance in a report on Monday, October 28th. They issued a “neutral” rating for the company. Maxim Group reissued a “buy” rating and issued a $13.00 price target on shares of Horizon Technology Finance in a report on Tuesday, August 6th. Finally, ValuEngine downgraded shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $12.00.
The business’s fifty day moving average price is $12.36 and its 200 day moving average price is $12.01. The company has a market capitalization of $180.52 million, a P/E ratio of 10.33 and a beta of 0.67.
Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings data on Tuesday, October 29th. The investment management company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. The company had revenue of $11.38 million during the quarter. Horizon Technology Finance had a net margin of 41.04% and a return on equity of 11.68%. As a group, research analysts forecast that Horizon Technology Finance Corp will post 1.35 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in HRZN. Royal Bank of Canada increased its position in shares of Horizon Technology Finance by 5.8% during the 2nd quarter. Royal Bank of Canada now owns 22,627 shares of the investment management company’s stock worth $267,000 after purchasing an additional 1,250 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Horizon Technology Finance by 11.0% during the 2nd quarter. Wells Fargo & Company MN now owns 31,961 shares of the investment management company’s stock worth $377,000 after purchasing an additional 3,169 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Horizon Technology Finance during the 1st quarter worth about $62,000. CWM LLC acquired a new stake in shares of Horizon Technology Finance during the 2nd quarter worth about $104,000. Finally, Millennium Management LLC acquired a new stake in shares of Horizon Technology Finance during the 3rd quarter worth about $127,000. 10.46% of the stock is owned by institutional investors.
Horizon Technology Finance Company Profile (NASDAQ:HRZN)
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.
Further Reading: Dead Cat Bounce
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