Horizon Technology Finance Corporation (NASDAQ:HRZN) Given Consensus Rating of “Reduce” by Brokerages

Horizon Technology Finance Corporation (NASDAQ:HRZN) has been assigned an average recommendation of “Reduce” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $4.9375.

A number of brokerages recently commented on HRZN. Oppenheimer cut their target price on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Friday, August 7th. UBS Group cut their target price on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a research report on Monday, May 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Horizon Technology Finance in a research report on Wednesday, August 5th. Finally, Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th.

Horizon Technology Finance Stock Up 1.6%

HRZN stock opened at $4.97 on Thursday. Horizon Technology Finance has a twelve month low of $3.80 and a twelve month high of $7.24. The company has a market cap of $333.14 million, a PE ratio of 13.81 and a beta of 0.98. The business’s 50-day simple moving average is $4.52 and its 200 day simple moving average is $4.80.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings results on Tuesday, August 4th. The investment management company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Horizon Technology Finance had a net margin of 5.27% and a return on equity of 11.15%. The firm had revenue of ($44.66) million during the quarter, compared to analyst estimates of $25.22 million. On average, equities research analysts anticipate that Horizon Technology Finance will post 0.63 EPS for the current year.

Horizon Technology Finance Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, November 17th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a c) annualized dividend and a dividend yield of 14.5%. Horizon Technology Finance’s dividend payout ratio is presently 200.00%.

Insiders Place Their Bets

In other news, CIO Paul G. Seitz bought 11,477 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average price of $4.35 per share, for a total transaction of $49,924.95. Following the transaction, the executive directly owned 12,242 shares of the company’s stock, valued at $53,252.70. This trade represents a 1,500.26% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas J. Allison purchased 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost of $4.36 per share, with a total value of $26,160.00. Following the completion of the acquisition, the director directly owned 55,926 shares in the company, valued at $243,837.36. The trade was a 12.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 134,977 shares of company stock worth $585,975 in the last quarter. 0.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HRZN. Quantbot Technologies LP acquired a new position in shares of Horizon Technology Finance in the 2nd quarter worth approximately $172,000. Green Alpha Advisors LLC bought a new position in Horizon Technology Finance in the 2nd quarter valued at $2,033,000. BlackRock Inc. bought a new position in Horizon Technology Finance in the 2nd quarter valued at $856,000. Leading Edge Financial Planning LLC acquired a new position in Horizon Technology Finance in the second quarter worth $79,000. Finally, Chapin Davis Inc. acquired a new position in Horizon Technology Finance in the second quarter worth $60,000. Institutional investors own 4.94% of the company’s stock.

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.