Horizon Technology Finance Co. (NASDAQ:HRZN) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been assigned an average recommendation of “Reduce” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $9.35.

Separately, Compass Point upgraded 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.

Horizon Technology Finance Price Performance

Shares of HRZN opened at $9.43 on Wednesday. The firm has a market cap of $376.07 million, a PE ratio of -78.58 and a beta of 1.22. Horizon Technology Finance has a 1 year low of $8.46 and a 1 year high of $13.42. The stock’s fifty day moving average price is $9.18 and its two-hundred day moving average price is $10.11.

Insider Activity

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 shares were bought at an average price of $8.53 per share, for a total transaction of $170,600.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $170,600. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Gerald A. Michaud acquired 8,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the president now directly owns 169,309 shares of the company’s stock, valued at $1,576,266.79. This trade represents a 4.96 % increase in their position. The disclosure for this purchase can be found here. 1.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Horizon Technology Finance

A number of hedge funds and other institutional investors have recently bought and sold shares of HRZN. Green Alpha Advisors LLC increased its position in shares of Horizon Technology Finance by 28.1% during the 4th 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 last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Horizon Technology Finance in the third quarter worth approximately $217,000. JPMorgan Chase & Co. bought a new position in Horizon Technology Finance during the third quarter valued at approximately $117,000. International Assets Investment Management LLC grew its position in 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 acquiring an additional 44,555 shares during the last quarter. Finally, Private Trust Co. NA purchased a new position in shares of Horizon Technology Finance during the third quarter worth approximately $38,000. 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.