Insider Buying: Horizon Technology Finance (NASDAQ:HRZN) Director Purchases 6,000 Shares of Stock

Horizon Technology Finance Corporation (NASDAQ:HRZN) Director Jonathan Joseph Goodman purchased 6,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $4.33 per share, with a total value of $25,980.00. Following the completion of the transaction, the director owned 8,312 shares of the company’s stock, valued at approximately $35,990.96. The trade was a 259.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Horizon Technology Finance Price Performance

Shares of NASDAQ HRZN traded up $0.12 during midday trading on Wednesday, hitting $4.43. The company’s stock had a trading volume of 667,360 shares, compared to its average volume of 1,015,078. The business’s fifty day simple moving average is $4.30 and its two-hundred day simple moving average is $5.46. Horizon Technology Finance Corporation has a 1 year low of $3.80 and a 1 year high of $8.46. The firm has a market capitalization of $302.39 million, a price-to-earnings ratio of 10.30 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, May 5th. The investment management company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. The business had revenue of ($6.19) million during the quarter, compared to analyst estimates of $21.09 million. Analysts anticipate that Horizon Technology Finance Corporation will post 0.69 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HRZN. Oppenheimer decreased their price target on shares of Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Tuesday, March 24th. B. Riley Financial decreased their price target on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a research note on Friday, March 6th. Zacks Research upgraded shares of 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 note on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Horizon Technology Finance has an average rating of “Hold” and a consensus target price of $5.65.

Institutional Trading of Horizon Technology Finance

Several institutional investors have recently modified their holdings of HRZN. N.E.W. Advisory Services LLC lifted its position in shares of Horizon Technology Finance by 100.0% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock worth $26,000 after buying an additional 2,000 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Horizon Technology Finance during the 1st quarter worth approximately $50,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Horizon Technology Finance in the 1st quarter valued at $52,000. Tower Research Capital LLC TRC acquired a new position in shares of Horizon Technology Finance in the 2nd quarter valued at $60,000. Finally, Nations Financial Group Inc. IA ADV acquired a new position in shares of Horizon Technology Finance in the 4th quarter valued at $67,000. Hedge funds and other 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.