In a report released today, Chris Kotowski from Oppenheimer maintained a Hold rating on Horizon Technology (NASDAQ: HRZN). The company’s shares opened today at $10.47.
Kotowski said:
“HRZN had issues with both asset quality and generating a sufficient level of investments to cover the dividends from late 2016 up to last quarter, but seems to have battled its way into the clear in 3Q18 as they covered the dividend cleanly with NII. Moreover, the company currently has no non-accruals and NAV has been very stable for the third quarter in a row. Thus, the company clearly seems on the mend and in absolute terms strikes us as a solid investment with an 11.2% dividend yield that now appears to us as more secure. That said, the stock now trades at a small premium to the group (92% of NAV vs. the average of 84%) and we see better risk/ rewards elsewhere.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 8.6% and a 55.9% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Fidus Investment Corporation.
Horizon Technology has an analyst consensus of Hold, with a price target consensus of $10.50.
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The company has a one-year high of $11.97 and a one-year low of $9.92. Currently, Horizon Technology has an average volume of 85.41K.
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Horizon Technology Finance Corp. is a finance company, which engages in the provision of capital in the form of secured loans to venture capital backed companies. It also involves in lending and investing in portfolio companies in technology, life science, healthcare information and services, and cleantech industries.
