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

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have received a consensus recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.65.

Several analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Horizon Technology Finance in a research note on Friday, May 8th. Oppenheimer decreased their target price on Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Tuesday, March 24th. UBS Group cut their price target on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating on the stock in a report on Monday, May 18th. Finally, Zacks Research raised shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th.

Insider Activity at Horizon Technology Finance

In other Horizon Technology Finance news, Director Jonathan Joseph Goodman purchased 6,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $4.33 per share, with a total value of $25,980.00. Following the completion of the acquisition, the director owned 8,312 shares in the company, valued at $35,990.96. This trade represents a 259.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Allison purchased 6,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was acquired at an average cost of $4.36 per share, for a total transaction of $26,160.00. Following the completion of the acquisition, the director owned 55,926 shares of the company’s stock, valued at $243,837.36. The trade was a 12.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 134,977 shares of company stock valued at $585,975 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Green Alpha Advisors LLC grew its stake in shares of Horizon Technology Finance by 11.8% during the 4th quarter. Green Alpha Advisors LLC now owns 558,944 shares of the investment management company’s stock worth $3,605,000 after purchasing an additional 58,915 shares during the period. Eagle Point Credit Management LLC purchased a new position in Horizon Technology Finance in the fourth quarter valued at $2,385,000. Millennium Management LLC acquired a new position in shares of Horizon Technology Finance in the third quarter worth about $1,099,000. UBS Group AG raised its position in shares of Horizon Technology Finance by 40.3% in the third quarter. UBS Group AG now owns 106,964 shares of the investment management company’s stock worth $652,000 after acquiring an additional 30,716 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in shares of Horizon Technology Finance during the 3rd quarter worth about $435,000. 4.94% of the stock is owned by institutional investors and hedge funds.

Horizon Technology Finance Trading Up 0.4%

Shares of NASDAQ HRZN traded up $0.02 during midday trading on Friday, reaching $4.65. The company had a trading volume of 377,031 shares, compared to its average volume of 634,429. The business’s 50-day simple moving average is $4.38 and its 200 day simple moving average is $5.13. The stock has a market cap of $317.41 million, a P/E ratio of 10.81 and a beta of 0.97. Horizon Technology Finance has a 1 year low of $3.80 and a 1 year high of $8.46.

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

Horizon Technology Finance Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 17th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, August 17th. Horizon Technology Finance’s dividend payout ratio (DPR) is 167.44%.

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.