Compass Point downgraded Horizon Technology (HRZN) to Sell from Neutral with a price target of $6.50, down from $7.75, following the Q1 report. The company’s “long-term drain” on net asset value continues and has declined for the last 11 quarters in a row, the analyst tells investors in a research note. The firm says that given the historical performance of distressed credits at Horizon, there is still “material downside risk” to NAV in future quarters.

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Horizon Technology downgraded to Sell from Neutral at Compass Point Horizon Technology reports Q1 NII 27c, consensus 33c Is HRZN a Buy, Before Earnings? Horizon Technology price target lowered to $8.25 from $9 at UBS Horizon Technology originates $100.3M of new loans in Q1

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