Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives $5.65 Average PT from Analysts

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have been assigned an average rating of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $5.45.

Several analysts recently weighed in on the company. Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. UBS Group lowered their target price on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a research note on Monday, May 18th. Weiss Ratings reissued a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Wednesday. Finally, Oppenheimer reduced their price target on shares of Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Friday.

Insider Transactions at Horizon Technology Finance

In other news, CFO Daniel R. Trolio purchased 11,500 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was bought at an average cost of $4.34 per share, for a total transaction of $49,910.00. Following the purchase, the chief financial officer owned 15,023 shares of the company’s stock, valued at approximately $65,199.82. The trade was a 326.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Balkin acquired 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost of $4.34 per share, for a total transaction of $434,000.00. Following the acquisition, the chief executive officer owned 223,527 shares in the company, valued at $970,107.18. This represents a 80.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 134,977 shares of company stock valued at $585,975. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP boosted its stake in shares of Horizon Technology Finance by 300.7% during the second quarter. Quantbot Technologies LP now owns 17,332 shares of the investment management company’s stock valued at $125,000 after purchasing an additional 13,007 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Horizon Technology Finance in the second quarter valued at approximately $103,000. BNP Paribas Financial Markets acquired a new position in shares of Horizon Technology Finance in the second quarter valued at approximately $122,000. Oxford Asset Management LLP bought a new position in Horizon Technology Finance in the 2nd quarter valued at approximately $285,000. Finally, Tower Research Capital LLC TRC bought a new position in Horizon Technology Finance in the 2nd quarter valued at approximately $60,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Horizon Technology Finance Trading Up 1.3%

NASDAQ HRZN opened at $4.64 on Thursday. Horizon Technology Finance has a 1 year low of $3.80 and a 1 year high of $7.28. The firm has a market capitalization of $311.02 million, a price-to-earnings ratio of 12.89 and a beta of 0.98. The firm’s 50 day simple moving average is $4.50 and its 200 day simple moving average is $4.85.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, August 4th. The investment management company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%.The business had revenue of ($44.66) million for the quarter, compared to the consensus estimate of $25.22 million. On average, equities research analysts forecast that Horizon Technology Finance will post 0.69 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, November 17th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a c) annualized dividend and a yield of 15.5%. Horizon Technology Finance’s dividend payout ratio is presently 200.00%.

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.