Brokerages Set Horizon Technology Finance Co. (NASDAQ:HRZN) Target Price at $9.75

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been given an average recommendation of “Reduce” by the five research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $9.75.

HRZN has been the subject of a number of recent research reports. StockNews.com cut shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Compass Point raised Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price objective on the stock in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods lowered their price objective on Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating for the company in a research note on Friday, March 7th. Finally, Maxim Group cut their target price on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 10th.

Horizon Technology Finance Trading Up 1.3 %

Shares of HRZN stock opened at $9.20 on Monday. The stock has a market capitalization of $370.90 million, a price-to-earnings ratio of -76.67 and a beta of 1.18. Horizon Technology Finance has a 12-month low of $8.46 and a 12-month high of $12.63. The stock’s 50-day moving average price is $9.41 and its 200-day moving average price is $9.74.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings data on Tuesday, March 4th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. The firm had revenue of $23.55 million for the quarter, compared to analysts’ expectations of $25.69 million. As a group, research analysts predict that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.32 annualized dividend and a dividend yield of 14.35%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -1,100.00%.

Insider Activity

In other Horizon Technology Finance news, Director Michael Balkin purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $8.53 per share, with a total value of $170,600.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $170,600. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.34% of the company’s stock.

Institutional Trading of Horizon Technology Finance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TrueMark Investments LLC bought a new position in shares of Horizon Technology Finance in the fourth quarter worth about $1,882,000. Marshall Wace LLP purchased a new stake in Horizon Technology Finance in the 4th quarter valued at about $1,288,000. Trexquant Investment LP grew its stake in Horizon Technology Finance by 196.4% in the 4th quarter. Trexquant Investment LP now owns 198,451 shares of the investment management company’s stock worth $1,784,000 after acquiring an additional 131,505 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Horizon Technology Finance during the fourth quarter worth approximately $788,000. Finally, Green Alpha Advisors LLC boosted its holdings in shares of Horizon Technology Finance by 28.1% in 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 purchasing an additional 63,709 shares during the period. Hedge funds and other institutional investors own 4.94% of the company’s stock.

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.