Horizon Technology Finance (HRZN) Stock Sinks As Market Gains: Here's Why
The most recent trading session ended with Horizon Technology Finance (HRZN) standing at $13.24, reflecting a -0.15% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.76% for the day. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 1.12%.
Coming into today, shares of the investment company had gained 0.68% in the past month. In that same time, the Finance sector lost 2.01%, while the S&P 500 gained 2.5%.
The investment community will be paying close attention to the earnings performance of Horizon Technology Finance in its upcoming release. The company is predicted to post an EPS of $0.48, indicating a 20% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $29.21 million, indicating a 26.19% increase compared to the same quarter of the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Horizon Technology Finance. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.64% lower. Right now, Horizon Technology Finance possesses a Zacks Rank of #4 (Sell).
In terms of valuation, Horizon Technology Finance is currently trading at a Forward P/E ratio of 7.57. Its industry sports an average Forward P/E of 7.78, so one might conclude that Horizon Technology Finance is trading at a discount comparatively.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 180, finds itself in the bottom 29% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Horizon Technology Finance Corporation (HRZN) : Free Stock Analysis Report
