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

Horizon Technology Finance Co. (NASDAQ:HRZN) has been given a consensus recommendation of “Reduce” by the six research firms that are presently covering the company, 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 twelve-month target price among brokerages that have issued ratings on the stock in the last year is $9.35.

Separately, Compass Point raised shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price objective for the company in a report on Tuesday.

Insider Transactions at Horizon Technology Finance

In other news, Director Michael Balkin acquired 20,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were bought at an average price of $8.53 per share, for a total transaction of $170,600.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $170,600. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Gerald A. Michaud bought 8,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $9.31 per share, with a total value of $74,480.00. Following the acquisition, the president now directly owns 169,309 shares of the company’s stock, valued at approximately $1,576,266.79. This represents a 4.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Horizon Technology Finance

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in shares of Horizon Technology Finance in the 2nd quarter valued at approximately $66,000. Commonwealth Equity Services LLC grew its position in Horizon Technology Finance by 4.9% in the second quarter. Commonwealth Equity Services LLC now owns 23,776 shares of the investment management company’s stock worth $286,000 after acquiring an additional 1,113 shares during the period. ETF Store Inc. increased its stake in Horizon Technology Finance by 4.4% during the second quarter. ETF Store Inc. now owns 50,942 shares of the investment management company’s stock worth $613,000 after acquiring an additional 2,136 shares during the last quarter. Green Alpha Advisors LLC raised its position in Horizon Technology Finance by 1.8% in the third quarter. Green Alpha Advisors LLC now owns 226,738 shares of the investment management company’s stock valued at $2,415,000 after purchasing an additional 3,928 shares during the period. Finally, Adell Harriman & Carpenter Inc. purchased a new stake in Horizon Technology Finance in the third quarter valued at $128,000. 4.94% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Technology Finance Stock Performance

Horizon Technology Finance stock opened at $8.83 on Tuesday. The business’s 50-day simple moving average is $9.54 and its two-hundred day simple moving average is $10.80. The company has a market cap of $309.24 million, a PE ratio of -73.58 and a beta of 1.22. Horizon Technology Finance has a fifty-two week low of $8.46 and a fifty-two week high of $13.73.

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 the consensus estimate of $0.35 by ($0.03). The business had revenue of $24.56 million during the quarter, compared to analysts’ expectations of $25.38 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. During the same period in the previous year, the company posted $0.53 earnings per share. As a group, analysts predict that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be issued a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 14.95%. The ex-dividend date is Thursday, January 16th. Horizon Technology Finance’s payout ratio is -1,100.00%.

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.