Horizon Technology Finance Co. (NASDAQ:HRZN) Given Average Rating of “Reduce” by Brokerages

Horizon Technology Finance Co. (NASDAQ:HRZN) has received a consensus recommendation of “Reduce” from the six analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $9.35.

Separately, Compass Point raised Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price on the stock in a report on Tuesday, December 17th.

Horizon Technology Finance Stock Up 1.4 %

NASDAQ HRZN opened at $9.62 on Wednesday. Horizon Technology Finance has a 52-week low of $8.46 and a 52-week high of $13.42. The business’s 50-day moving average price is $9.20 and its 200 day moving average price is $10.01. The firm has a market cap of $383.65 million, a P/E ratio of -80.17 and a beta of 1.22.

Insider Activity at Horizon Technology Finance

In other Horizon Technology Finance news, President Gerald A. Michaud purchased 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $9.31 per share, for a total transaction of $74,480.00. Following the completion of the purchase, the president now directly owns 169,309 shares in the company, valued at $1,576,266.79. This represents a 4.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Balkin purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average price of $8.53 per share, for a total transaction of $170,600.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $170,600. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Green Alpha Advisors LLC increased its holdings in Horizon Technology Finance by 28.1% in the fourth quarter. Green Alpha Advisors LLC now owns 290,447 shares of the investment management company’s stock valued at $2,611,000 after buying an additional 63,709 shares in the last quarter. LPL Financial LLC increased its position in Horizon Technology Finance by 9.7% during the fourth quarter. LPL Financial LLC now owns 176,871 shares of the investment management company’s stock worth $1,590,000 after buying an additional 15,670 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Horizon Technology Finance in the 4th quarter valued at about $788,000. ETF Store Inc. raised its stake in Horizon Technology Finance by 3.7% in the 3rd quarter. ETF Store Inc. now owns 52,813 shares of the investment management company’s stock valued at $562,000 after purchasing an additional 1,871 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Horizon Technology Finance by 810.1% during the third quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock worth $5,330,000 after purchasing an additional 44,555 shares during the last quarter. 4.94% of the stock is owned by hedge funds and other institutional investors.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries.