Horizon Technology Receives a Hold from Oppenheimer

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 $10.30.

Kotowski commented:

“HRZN reported generally stable results for 1Q18 even though the reported net investment income of $0.28 was slightly shy of our $0.29 estimate and the $0.30 quarterly dividend. Another positive was that the company exited its last significant non-accrual loan at a value above its prior marked value. On the other hand, NAV drifted down by 0.6% from $11.72 to $11.65 on some markdowns of higher risk rated loans. This continues a drift down from $15.15 at year-end 2012. HRZN is trading at 86% NAV and with an 11.9% yield indicating that these issues are to some extent reflected in the stock, but given that the group is on average trading at 84%, it is not an extraordinary bargain given the issues.”

According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 9.4% and a 63.8% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Apollo Global Management LLC.

Horizon Technology has an analyst consensus of Moderate Buy, with a price target consensus of $12.

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The company has a one-year high of $11.88 and a one-year low of $9.66. Currently, Horizon Technology has an average volume of 75.67K.

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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.