Horizon Technology Finance Co. (NASDAQ:HRZN) Receives $9.35 Average PT from Analysts

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been assigned a consensus recommendation of “Reduce” from the six research firms that are currently covering the firm, MarketBeat.com 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 brokerages that have issued ratings on the stock in the last year is $9.35.

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

Horizon Technology Finance Stock Performance

Shares of HRZN stock opened at $8.85 on Tuesday. The company has a market capitalization of $309.94 million, a price-to-earnings ratio of -73.75 and a beta of 1.22. The stock’s 50 day simple moving average is $9.50 and its 200 day simple moving average is $10.78. Horizon Technology Finance has a twelve month low of $8.46 and a twelve month high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last released 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). The firm had revenue of $24.56 million during the quarter, compared to the consensus estimate of $25.38 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. During the same period in the prior year, the business earned $0.53 EPS. On average, analysts forecast that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, January 16th. This represents a $1.32 annualized dividend and a dividend yield of 14.92%. Horizon Technology Finance’s payout ratio is -1,100.00%.

Insider Activity

In other news, Director Michael Balkin bought 20,000 shares of Horizon Technology Finance stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $8.53 per share, with a total value of $170,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $170,600. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Gerald A. Michaud purchased 8,000 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $9.31 per share, for a total transaction of $74,480.00. Following the acquisition, the president now directly owns 169,309 shares in the company, valued at approximately $1,576,266.79. This trade represents a 4.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Horizon Technology Finance

Several large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC acquired a new stake in Horizon Technology Finance in the 3rd quarter valued at $25,000. Private Trust Co. NA bought a new stake in shares of Horizon Technology Finance in the 3rd quarter worth about $38,000. International Assets Investment Management LLC bought a new position in Horizon Technology Finance during the 2nd quarter valued at about $66,000. Quantbot Technologies LP acquired a new position in Horizon Technology Finance in the third quarter valued at about $99,000. Finally, Adell Harriman & Carpenter Inc. bought a new stake in Horizon Technology Finance during the third quarter worth about $128,000. 4.94% of the stock is currently owned by institutional investors.

About Horizon Technology Finance

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.