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

Horizon Technology Finance Corporation (NASDAQ:HRZN) has received a consensus rating of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. One equities 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 1 year price target among brokers that have issued ratings on the stock in the last year is $5.65.

A number of brokerages recently commented on HRZN. B. Riley Financial cut their price objective on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a report on Friday, March 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Friday, May 8th. Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. Wall Street Zen lowered Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Oppenheimer reduced their price target on Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Tuesday, March 24th.

Insider Buying and Selling at Horizon Technology Finance

In other news, CFO Daniel R. Trolio purchased 11,500 shares of the stock in a transaction dated Wednesday, June 10th. The shares were purchased at an average cost of $4.34 per share, with a total value of $49,910.00. Following the completion of the acquisition, the chief financial officer owned 15,023 shares in the company, valued at $65,199.82. This represents a 326.43% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Joseph Goodman purchased 6,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average cost of $4.33 per share, for a total transaction of $25,980.00. Following the completion of the acquisition, the director owned 8,312 shares of the company’s stock, valued at approximately $35,990.96. This represents a 259.52% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 134,977 shares of company stock worth $585,975. 0.29% of the stock is owned by corporate insiders.

Institutional Trading of Horizon Technology Finance

Hedge funds and other institutional investors have recently bought and sold shares of the company. HRT Financial LP purchased a new position in shares of Horizon Technology Finance during the 4th quarter valued at $77,000. Financial Engines Advisors L.L.C. bought a new position in shares of Horizon Technology Finance in the fourth quarter worth $139,000. Virtu Financial LLC purchased a new stake in shares of Horizon Technology Finance in the third quarter worth $119,000. Tower Research Capital LLC TRC purchased a new stake in shares of Horizon Technology Finance in the second quarter worth $60,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Horizon Technology Finance in the second quarter worth $122,000. Institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Stock Up 3.0%

NASDAQ HRZN opened at $4.49 on Tuesday. The company has a market cap of $306.49 million, a PE ratio of 10.44 and a beta of 1.00. Horizon Technology Finance has a 52 week low of $3.80 and a 52 week high of $8.46. The firm’s 50-day simple moving average is $4.32 and its two-hundred day simple moving average is $5.40.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, May 5th. The investment management company reported $0.19 earnings per share for the quarter, hitting 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 firm had revenue of ($6.19) million during the quarter, compared to the consensus estimate of $21.09 million. As a group, equities research analysts anticipate that Horizon Technology Finance will post 0.69 EPS for the current year.

Horizon Technology Finance Announces Dividend

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

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.