UPDATE: Gilford Securities Initiates Horizon Technology Finance at Hold

Gilford Securities initiated coverage on Horizon Technology Finance (NASDAQ: HRZN) with a Hold rating and a $16.25 price target.

Gilford Securities commented, "Horizon is led by a five person team. Each team member has at least 12 years' experience in venture lending. In the past, they have held senior-level positions in companies such as GATX Ventures, Inc., Transamerica Technology Finance, Financing for Science International, Inc., and GE Life Sciences. The management team's network of contacts in the venture capital community serves as a main source of investment opportunities."

Horizon Technology Finance closed at $ on Monday.