Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives Consensus Recommendation of “Hold” from Brokerages

Horizon Technology Finance Corporation (NASDAQ:HRZN) has been given an average rating of “Hold” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $5.65.

A number of analysts recently weighed in on HRZN shares. Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Horizon Technology Finance in a research report on Friday, May 8th. UBS Group reduced their target price on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a report on Monday, May 18th. Finally, Oppenheimer lowered their price target on shares of Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 24th.

Horizon Technology Finance Trading Down 0.9%

Horizon Technology Finance stock opened at $4.66 on Friday. The stock has a 50 day moving average of $4.41 and a two-hundred day moving average of $5.07. Horizon Technology Finance has a twelve month low of $3.80 and a twelve month high of $8.46. The stock has a market capitalization of $318.09 million, a price-to-earnings ratio of 10.84 and a beta of 0.97.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, May 5th. The investment management company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. Horizon Technology Finance had a return on equity of 13.63% and a net margin of 22.55%.The business had revenue of ($6.19) million for the quarter, compared to analyst estimates of $21.09 million. Equities analysts predict that Horizon Technology Finance will post 0.69 earnings per share for the current year.

Horizon Technology Finance Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 17th will be given a $0.03 dividend. The ex-dividend date is Monday, August 17th. Horizon Technology Finance’s dividend payout ratio is currently 167.44%.

Insider Activity at Horizon Technology Finance

In other Horizon Technology Finance news, CIO Paul G. Seitz purchased 11,477 shares of Horizon Technology Finance stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $4.35 per share, with a total value of $49,924.95. Following the completion of the transaction, the executive directly owned 12,242 shares in the company, valued at approximately $53,252.70. This represents a 1,500.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Balkin acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were acquired at an average price of $4.34 per share, with a total value of $434,000.00. Following the completion of the purchase, the chief executive officer owned 223,527 shares of the company’s stock, valued at $970,107.18. This trade 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 quarter, insiders have bought 134,977 shares of company stock worth $585,975. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Horizon Technology Finance

Several large investors have recently bought and sold shares of HRZN. Green Alpha Advisors LLC lifted its stake in shares of Horizon Technology Finance by 11.8% in the fourth quarter. Green Alpha Advisors LLC now owns 558,944 shares of the investment management company’s stock worth $3,605,000 after acquiring an additional 58,915 shares in the last quarter. Eagle Point Credit Management LLC purchased a new stake in Horizon Technology Finance during the 4th quarter worth approximately $2,385,000. Millennium Management LLC acquired a new position in shares of Horizon Technology Finance in the 3rd quarter valued at approximately $1,099,000. UBS Group AG raised its position in shares of Horizon Technology Finance by 40.3% in the 3rd quarter. UBS Group AG now owns 106,964 shares of the investment management company’s stock valued at $652,000 after purchasing an additional 30,716 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in shares of Horizon Technology Finance in the third quarter worth $435,000. Institutional investors and hedge funds 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.