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

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have received an average rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $5.65.

Several research firms have recently issued reports on HRZN. Weiss Ratings restated a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Friday, May 8th. Zacks Research raised shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. UBS Group dropped their target price 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 cut their target price on 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.

Insiders Place Their Bets

In other Horizon Technology Finance news, CEO Michael Balkin bought 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average cost of $4.34 per share, for a total transaction of $434,000.00. Following the completion of the transaction, the chief executive officer 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Allison bought 6,000 shares of Horizon Technology Finance 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 completion of the transaction, the director owned 55,926 shares of the company’s stock, valued at approximately $243,837.36. This trade represents a 12.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 134,977 shares of company stock valued at $585,975. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Horizon Technology Finance

Hedge funds have recently modified their holdings of the business. N.E.W. Advisory Services LLC raised its position in shares of Horizon Technology Finance by 100.0% in 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 acquiring an additional 2,000 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Horizon Technology Finance in the first quarter valued at about $50,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Horizon Technology Finance in the first quarter worth about $52,000. Tower Research Capital LLC TRC acquired a new stake in Horizon Technology Finance in the second quarter worth about $60,000. Finally, Chapin Davis Inc. purchased a new stake in shares of Horizon Technology Finance during the second quarter worth about $60,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Stock Performance

Shares of NASDAQ:HRZN traded up $0.02 on Friday, reaching $4.65. The company’s stock had a trading volume of 377,031 shares, compared to its average volume of 634,429. The company has a 50-day simple moving average of $4.38 and a 200 day simple moving average of $5.13. The company has a market cap of $317.41 million, a P/E ratio of 10.81 and a beta of 0.97. Horizon Technology Finance has a 52-week low of $3.80 and a 52-week high of $8.46.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings data 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 the consensus estimate of $21.09 million. On average, equities research analysts forecast that Horizon Technology Finance will post 0.69 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

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