Maxim Group Keeps Their Buy Rating on Horizon Technology

Maxim Group analyst Michael Diana maintained a Buy rating on Horizon Technology (NASDAQ: HRZN) today and set a price target of $12. The company’s shares opened today at $10.30.

Diana said:

“1Q18 NII was $0.28 per share versus the dividend of $0.30, partly due to a smaller investment portfolio (down 4.5%, driven by early payoffs). For the remainder of 2018, we expect a combination of modest portfolio growth plus the positive impact of higher interest rates to generate sufficient earnings to cover the dividend. Our $12 price target equates to 1.0x NAV. In our view, BDCs such as HRZN (focused on senior secured, floating rate loans with warrants) should not trade below a valuation level of 1.0x NAV in the current environment.”

According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.6% and a 61.6% success rate. Diana covers the Financial sector, focusing on stocks such as Manhattan Bridge Capital Inc, Arlington Asset Investment, and Westamerica Bancorporation.

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.