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

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

Separately, Compass Point raised shares of 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 0.5 %

Shares of Horizon Technology Finance stock opened at $9.24 on Friday. The company has a market capitalization of $368.45 million, a price-to-earnings ratio of -77.00 and a beta of 1.21. The stock’s 50-day simple moving average is $9.19 and its 200-day simple moving average is $10.42. Horizon Technology Finance has a 52 week low of $8.46 and a 52 week high of $13.71.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings results on Tuesday, October 29th. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. The business had revenue of $24.56 million during the quarter, compared to analysts’ expectations of $25.38 million. During the same period in the prior year, the firm posted $0.53 earnings per share. On average, equities analysts expect that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, January 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 14.29%. Horizon Technology Finance’s dividend payout ratio is currently -1,100.00%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Horizon Technology Finance

Several institutional investors have recently modified their holdings of HRZN. Green Alpha Advisors LLC raised its holdings in Horizon Technology Finance by 28.1% during the 4th 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 during the period. ETF Store Inc. increased its position in Horizon Technology Finance by 3.7% during the third quarter. ETF Store Inc. now owns 52,813 shares of the investment management company’s stock valued at $562,000 after acquiring an additional 1,871 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Horizon Technology Finance by 810.1% in the third quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock valued at $5,330,000 after acquiring an additional 44,555 shares during the period. First Financial Bank Trust Division lifted its holdings in shares of Horizon Technology Finance by 5.0% in the 4th quarter. First Financial Bank Trust Division now owns 45,725 shares of the investment management company’s stock worth $411,000 after acquiring an additional 2,173 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Horizon Technology Finance during the 3rd quarter worth about $348,000. 4.94% of the stock is owned by 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.