Horizon Technology Finance Co. (NASDAQ:HRZN) Receives $9.35 Average Price Target from Analysts

Horizon Technology Finance Co. (NASDAQ:HRZN) has been assigned a consensus recommendation of “Reduce” from the six ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $9.35.

Separately, Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price target on the stock in a report on Tuesday, December 17th.

Horizon Technology Finance Stock Up 1.2 %

HRZN stock opened at $9.22 on Friday. Horizon Technology Finance has a twelve month low of $8.46 and a twelve month high of $13.71. The stock has a market capitalization of $367.66 million, a price-to-earnings ratio of -76.83 and a beta of 1.21. The firm’s fifty day simple moving average is $9.19 and its two-hundred day simple moving average is $10.44.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings results on Tuesday, October 29th. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $24.56 million during the quarter, compared to the consensus estimate of $25.38 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. During the same quarter in the previous year, the company posted $0.53 earnings per share. As a group, equities research analysts expect that Horizon Technology Finance will post 1.38 EPS for the current year.

Horizon Technology Finance Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 14.32%. The ex-dividend date of this dividend is Thursday, January 16th. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -1,100.00%.

Insider Buying and Selling

In other Horizon Technology Finance news, Director Michael Balkin acquired 20,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $8.53 per share, with a total value of $170,600.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $170,600. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Gerald A. Michaud acquired 8,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $9.31 per share, with a total value of $74,480.00. Following the completion of the purchase, the president now owns 169,309 shares of the company’s stock, valued at $1,576,266.79. This trade represents a 4.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.34% of the stock is owned by insiders.

Institutional Trading of Horizon Technology Finance

Several hedge funds have recently modified their holdings of HRZN. Green Alpha Advisors LLC lifted its position in shares of Horizon Technology Finance by 28.1% during the fourth quarter. Green Alpha Advisors LLC now owns 290,447 shares of the investment management company’s stock valued at $2,611,000 after buying an additional 63,709 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Horizon Technology Finance by 810.1% during the third quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock valued at $5,330,000 after buying an additional 44,555 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Horizon Technology Finance during the third quarter valued at about $348,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Horizon Technology Finance during the third quarter valued at about $217,000. Finally, Adell Harriman & Carpenter Inc. purchased a new position in shares of Horizon Technology Finance in the 3rd quarter valued at approximately $128,000. 4.94% of the stock is owned by hedge funds and other institutional investors.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries.