Michael Balkin Acquires 100,000 Shares of Horizon Technology Finance (NASDAQ:HRZN) Stock

Horizon Technology Finance Corporation (NASDAQ:HRZN) CEO Michael Balkin bought 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average price of $4.34 per share, for a total transaction of $434,000.00. Following the transaction, the chief executive officer directly owned 223,527 shares of the company’s stock, valued at approximately $970,107.18. This represents a 80.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Horizon Technology Finance Stock Up 2.9%

Shares of HRZN stock opened at $4.57 on Friday. The stock has a market capitalization of $311.95 million, a PE ratio of 10.63 and a beta of 1.00. Horizon Technology Finance Corporation has a 52-week low of $3.80 and a 52-week high of $8.46. The stock’s 50-day moving average price is $4.31 and its 200 day moving average price is $5.43.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, May 5th. The investment management company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of ($6.19) million for the quarter, compared to analysts’ expectations of $21.09 million. Horizon Technology Finance had a return on equity of 13.63% and a net margin of 22.55%. Analysts expect that Horizon Technology Finance Corporation will post 0.69 earnings per share for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 17th will be given a $0.03 dividend. The ex-dividend date is Monday, August 17th. Horizon Technology Finance’s payout ratio is 167.44%.

Institutional Investors Weigh In On Horizon Technology Finance

Institutional investors and hedge funds have recently bought and sold shares of the stock. N.E.W. Advisory Services LLC lifted its stake in Horizon Technology Finance by 100.0% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock valued at $26,000 after buying an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Horizon Technology Finance during the 2nd quarter worth $60,000. Nations Financial Group Inc. IA ADV purchased a new position in shares of Horizon Technology Finance during the 4th quarter worth $67,000. Sanctuary Advisors LLC purchased a new position in shares of Horizon Technology Finance during the 1st quarter worth $50,000. Finally, HRT Financial LP purchased a new position in shares of Horizon Technology Finance during the 4th quarter worth $77,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Analyst Upgrades and Downgrades

HRZN has been the topic of a number of analyst reports. UBS Group lowered their price objective on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating on the stock in a report on Monday, May 18th. Oppenheimer decreased their price target on Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Friday, May 8th. Zacks Research raised Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. Finally, B. Riley Financial decreased their target price on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a research report on Friday, March 6th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Horizon Technology Finance has a consensus rating of “Hold” and a consensus price target of $5.65.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.