Horizon Technology Finance (NASDAQ:HRZN) Shares Pass Above 200 Day Moving Average – Time to Sell?

Horizon Technology Finance Corporation (NASDAQ:HRZN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.79 and traded as high as $5.14. Horizon Technology Finance shares last traded at $5.01, with a volume of 1,094,585 shares.

Analyst Ratings Changes

HRZN has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Wednesday, August 5th. Zacks Research raised Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. UBS Group reduced their price target on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a research report on Monday, May 18th. Finally, Oppenheimer decreased their price target on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Friday, August 7th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Horizon Technology Finance has a consensus rating of “Reduce” and a consensus price target of $4.94.

Horizon Technology Finance Trading Down 2.0%

The business’s 50-day simple moving average is $4.54 and its 200 day simple moving average is $4.79. The company has a market capitalization of $335.82 million, a P/E ratio of 13.92 and a beta of 0.98.

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 net margin of 5.27% and a return on equity of 11.15%. The company had revenue of ($44.66) million during the quarter, compared to the consensus estimate of $25.22 million. As a group, sell-side analysts predict that Horizon Technology Finance Corporation will post 0.63 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, November 17th will be paid a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a yield of 14.4%. The ex-dividend date of this dividend is Tuesday, November 17th. Horizon Technology Finance’s dividend payout ratio (DPR) is presently 200.00%.

Insider Activity at Horizon Technology Finance

In other news, Director Thomas J. Allison purchased 6,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were bought at an average cost of $4.36 per share, for a total transaction of $26,160.00. Following the transaction, the director owned 55,926 shares in the company, valued at $243,837.36. This trade represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Balkin acquired 100,000 shares of the company’s stock in a transaction dated 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 approximately $970,107.18. This represents a 80.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 134,977 shares of company stock worth $585,975 in the last quarter. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently bought and sold shares of HRZN. Quantbot Technologies LP boosted its position in shares of Horizon Technology Finance by 300.7% during the 2nd quarter. Quantbot Technologies LP now owns 17,332 shares of the investment management company’s stock valued at $125,000 after purchasing an additional 13,007 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Horizon Technology Finance in the 2nd quarter worth approximately $103,000. BNP Paribas Financial Markets acquired a new stake in Horizon Technology Finance during the second quarter valued at approximately $122,000. Oxford Asset Management LLP acquired a new stake in Horizon Technology Finance during the second quarter valued at approximately $285,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Horizon Technology Finance during the second quarter valued at approximately $60,000. 4.94% of the stock is owned by institutional investors and hedge funds.

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.