Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives $5.65 Average Price Target from Brokerages

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have been given an average recommendation of “Hold” by the seven ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $5.65.

HRZN has been the subject of a number of research analyst reports. Oppenheimer dropped their target price on shares of Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Tuesday, March 24th. UBS Group lowered their price target on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a report on Monday, May 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Horizon Technology Finance in a research report on Friday, May 8th. Finally, Zacks Research raised Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th.

Insider Buying and Selling at Horizon Technology Finance

In other news, CEO Michael Balkin acquired 100,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $4.34 per share, for a total transaction of $434,000.00. Following the completion of the transaction, the chief executive officer directly owned 223,527 shares in the company, valued at $970,107.18. This trade represents a 80.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel R. Trolio acquired 11,500 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were purchased at an average cost of $4.34 per share, with a total value of $49,910.00. Following the completion of the acquisition, the chief financial officer directly owned 15,023 shares in the company, valued at approximately $65,199.82. The trade was a 326.43% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 134,977 shares of company stock valued at $585,975 over the last ninety days. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. N.E.W. Advisory Services LLC grew its position in shares of 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 period. ETF Store Inc. lifted its holdings in Horizon Technology Finance by 5.3% in the fourth quarter. ETF Store Inc. now owns 60,873 shares of the investment management company’s stock valued at $393,000 after buying an additional 3,055 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Horizon Technology Finance by 20.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 43,268 shares of the investment management company’s stock valued at $312,000 after buying an additional 7,197 shares during the period. Tower Research Capital LLC TRC bought a new position in Horizon Technology Finance in the second quarter valued at approximately $60,000. Finally, Nations Financial Group Inc. IA ADV bought a new position in Horizon Technology Finance in the fourth quarter valued at approximately $67,000. Institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Stock Down 0.6%

Horizon Technology Finance stock opened at $4.70 on Friday. The stock has a 50-day simple moving average of $4.41 and a 200 day simple moving average of $5.08. Horizon Technology Finance has a 12-month low of $3.80 and a 12-month high of $8.46. The stock has a market capitalization of $320.82 million, a price-to-earnings ratio of 10.93 and a beta of 0.97.

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, hitting the consensus estimate of $0.19. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. The business had revenue of ($6.19) million for the quarter, compared to the consensus estimate of $21.09 million. As a group, sell-side analysts anticipate that Horizon Technology Finance will post 0.69 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 17th will be given a dividend of $0.03 per share. The ex-dividend date is Monday, August 17th. Horizon Technology Finance’s payout ratio is presently 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.