Horizon Technology Finance (NASDAQ:HRZN) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Horizon Technology Finance Corporation (NASDAQ:HRZN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.79 and traded as high as $5.14. Horizon Technology Finance shares last traded at $5.01, with a volume of 1,094,585 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HRZN. Oppenheimer decreased their target price on shares of 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. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Horizon Technology Finance in a research note on Wednesday, August 5th. UBS Group cut their price objective 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. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $4.94.

Horizon Technology Finance Stock Performance

The firm has a fifty day simple moving average of $4.54 and a 200-day simple moving average of $4.79. The company has a market capitalization of $335.82 million, a PE ratio of 13.92 and a beta of 0.98.

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

Horizon Technology Finance Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Investors 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 yield of 14.4%. Horizon Technology Finance’s dividend payout ratio is currently 200.00%.

Insider Activity

In related news, CEO Michael Balkin acquired 100,000 shares of Horizon Technology Finance stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $4.34 per share, for a total transaction of $434,000.00. Following the purchase, the chief executive officer directly owned 223,527 shares of the company’s stock, valued at $970,107.18. The trade was a 80.95% 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 Thomas J. Allison acquired 6,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were bought 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 owned 55,926 shares in the company, valued at $243,837.36. This represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 134,977 shares of company stock worth $585,975 over the last ninety days. Insiders own 0.29% of the company’s stock.

Institutional Trading of Horizon Technology Finance

Institutional investors and hedge funds have recently bought and sold shares of the company. N.E.W. Advisory Services LLC lifted its holdings in Horizon Technology Finance by 100.0% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock worth $26,000 after buying an additional 2,000 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Horizon Technology Finance in the 1st quarter valued at approximately $50,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Horizon Technology Finance in the 1st quarter valued at approximately $52,000. Tower Research Capital LLC TRC bought a new stake in shares of Horizon Technology Finance in the 2nd quarter valued at approximately $60,000. Finally, Chapin Davis Inc. acquired a new stake in shares of Horizon Technology Finance during the 2nd quarter valued at approximately $60,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Horizon Technology Finance Company Profile

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.