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

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have earned a consensus rating of “Reduce” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $9.35.

Separately, Compass Point raised Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price for the company in a research report on Tuesday, December 17th.

Horizon Technology Finance Stock Down 1.1 %

NASDAQ HRZN opened at $9.11 on Friday. Horizon Technology Finance has a 52 week low of $8.46 and a 52 week high of $13.71. The business has a 50 day moving average price of $9.19 and a 200-day moving average price of $10.50. The company has a market cap of $363.27 million, a price-to-earnings ratio of -75.92 and a beta of 1.21.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, October 29th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The business had revenue of $24.56 million during the quarter, compared to the consensus estimate of $25.38 million. During the same period in the previous year, the business posted $0.53 EPS. On average, equities research analysts anticipate that Horizon Technology Finance will post 1.38 earnings per share 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. Shareholders of record on Thursday, January 16th will be issued a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 14.49%. The ex-dividend date of this dividend is Thursday, January 16th. Horizon Technology Finance’s dividend payout ratio (DPR) is currently -1,100.00%.

Insider Activity at Horizon Technology Finance

In related news, President Gerald A. Michaud bought 8,000 shares of the company’s stock in a transaction 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 completion of the acquisition, the president now owns 169,309 shares of the company’s stock, valued at $1,576,266.79. The trade was a 4.96 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Balkin purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $8.53 per share, for a total transaction of $170,600.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $170,600. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in shares of Horizon Technology Finance by 810.1% in the third quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock worth $5,330,000 after buying an additional 44,555 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Horizon Technology Finance during the 3rd quarter worth $348,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Horizon Technology Finance during the 3rd quarter valued at $217,000. Adell Harriman & Carpenter Inc. purchased a new stake in shares of Horizon Technology Finance in the 3rd quarter worth $128,000. Finally, JPMorgan Chase & Co. bought a new position in Horizon Technology Finance in the 3rd quarter worth $117,000. 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.