Brokerages Set Horizon Technology Finance Corporation (NASDAQ:HRZN) PT at $4.95

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have received an average recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.00.

A number of research analysts have weighed in on the stock. Compass Point initiated coverage on shares of Horizon Technology Finance in a research report on Thursday, August 27th. They set a “buy” rating and a $5.50 target price for the company. Keefe, Bruyette & Woods dropped their price objective on Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating on the stock in a research note on Friday, August 21st. UBS Group boosted their price objective on Horizon Technology Finance from $4.25 to $4.50 and gave the stock a “neutral” rating in a research report on Tuesday, September 1st. Weiss Ratings lowered Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 19th. Finally, Oppenheimer lowered their target price on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Friday, August 7th.

Horizon Technology Finance Price Performance

NASDAQ:HRZN opened at $4.84 on Monday. Horizon Technology Finance has a 12 month low of $3.80 and a 12 month high of $6.98. The firm has a market cap of $324.43 million, a price-to-earnings ratio of 13.44 and a beta of 0.99. The company’s 50 day moving average is $4.68 and its 200-day moving average is $4.59.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.11 earnings per share (EPS) 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 firm had revenue of ($44.66) million for the quarter, compared to the consensus estimate of $25.22 million. Research analysts predict that Horizon Technology Finance will post 0.63 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, November 17th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, November 17th. This represents a c) annualized dividend and a dividend yield of 14.9%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently 200.00%.

Insider Buying and Selling at Horizon Technology Finance

In related news, CEO Michael Balkin bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $4.34 per share, for a total transaction of $434,000.00. Following the purchase, the chief executive officer directly owned 223,527 shares in the company, valued at $970,107.18. This trade represents a 80.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CIO Paul Seitz bought 11,477 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average price of $4.35 per share, with a total value of $49,924.95. Following the completion of the purchase, the executive owned 12,242 shares in the company, valued at approximately $53,252.70. The trade was a 1,500.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 134,977 shares of company stock valued at $585,975 in the last three months. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Horizon Technology Finance

Hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP grew its position in 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 worth $125,000 after buying an additional 13,007 shares in the last quarter. Marshall Wace LLP acquired a new position in Horizon Technology Finance in the 2nd quarter valued at approximately $103,000. BNP Paribas Financial Markets acquired a new position in Horizon Technology Finance in the 2nd quarter valued at approximately $122,000. Oxford Asset Management LLP bought a new stake in shares of Horizon Technology Finance in the 2nd quarter worth approximately $285,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Horizon Technology Finance in the 2nd quarter worth approximately $60,000. 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.