Horizon Technology Finance (NASDAQ:HRZN) Director Buys $26,160.00 in Stock

Horizon Technology Finance Corporation (NASDAQ:HRZN) Director Thomas Allison purchased 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $4.36 per share, for a total transaction of $26,160.00. Following the completion of the acquisition, the director directly owned 55,926 shares in the company, valued at $243,837.36. The trade was a 12.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Horizon Technology Finance Stock Up 2.8%

NASDAQ:HRZN traded up $0.12 during mid-day trading on Wednesday, hitting $4.43. 667,360 shares of the stock traded hands, compared to its average volume of 1,015,078. The stock has a market capitalization of $302.39 million, a price-to-earnings ratio of 10.30 and a beta of 1.00. Horizon Technology Finance Corporation has a 52 week low of $3.80 and a 52 week high of $8.46. The firm’s 50 day moving average is $4.30 and its two-hundred day moving average is $5.46.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, May 5th. The investment management company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The company had revenue of ($6.19) million for the quarter, compared to the consensus estimate of $21.09 million. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. As a group, research analysts predict that Horizon Technology Finance Corporation will post 0.69 EPS for the current year.

Horizon Technology Finance Announces Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 17th will be issued a dividend of $0.03 per share. The ex-dividend date is Monday, August 17th. Horizon Technology Finance’s dividend payout ratio is presently 167.44%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price objective for the company in a research report on Thursday, March 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Horizon Technology Finance in a research report on Friday, May 8th. B. Riley Financial lowered their price objective on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a research report on Friday, March 6th. Zacks Research raised shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.65.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. N.E.W. Advisory Services LLC raised its stake in shares of Horizon Technology Finance by 100.0% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock worth $26,000 after acquiring an additional 2,000 shares in the last quarter. ETF Store Inc. raised its stake in shares of Horizon Technology Finance by 5.3% during the 4th quarter. ETF Store Inc. now owns 60,873 shares of the investment management company’s stock worth $393,000 after acquiring an additional 3,055 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Horizon Technology Finance by 20.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 43,268 shares of the investment management company’s stock worth $312,000 after acquiring an additional 7,197 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Horizon Technology Finance during the 2nd quarter worth approximately $60,000. Finally, Nations Financial Group Inc. IA ADV bought a new position in shares of Horizon Technology Finance during the 4th quarter worth approximately $67,000. Institutional investors own 4.94% of the company’s stock.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.