In a report released today, Michael Diana from Maxim Group maintained a Buy rating on Horizon Technology (NASDAQ: HRZN), with a price target of $12. The company’s shares opened today at $10.47.
Diana wrote:
“3Q18 NII was $0.30 per share (helped by incentive fee waivers), up from $0.29 in 2Q18, as the investment portfolio grew by 5.9%. With a larger portfolio for an entire quarter, plus a lift from higher interest rates (as 99% of the investment portfolio is floating-rate), HRZN should be able to sustain coverage of its $0.30 dividend in 4Q18 (helped by incentive fee waivers) and in 2019 (when there could be no incentive fee waivers).”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 3.2% and a 53.9% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
Currently, the analyst consensus on Horizon Technology is a Hold with an average price target 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.
