Michael Balkin Purchases 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 bought at an average cost of $4.34 per share, for a total transaction of $434,000.00. Following the transaction, the chief executive officer owned 223,527 shares in the company, valued at approximately $970,107.18. The trade was a 80.95% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Horizon Technology Finance Trading Up 2.9%

Shares of NASDAQ HRZN traded up $0.13 during trading hours on Wednesday, hitting $4.44. 447,655 shares of the company traded hands, compared to its average volume of 1,012,994. The stock has a market capitalization of $302.80 million, a price-to-earnings ratio of 10.31 and a beta of 1.00. The company’s 50 day moving average price is $4.30 and its 200 day moving average price is $5.46. Horizon Technology Finance Corporation has a 12 month low of $3.80 and a 12 month high of $8.46.

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

Horizon Technology Finance Dividend Announcement

The firm also recently disclosed 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 is Monday, August 17th. Horizon Technology Finance’s payout ratio is presently 167.44%.

Institutional Investors Weigh In On Horizon Technology Finance

Hedge funds have recently made changes to their positions in the stock. N.E.W. Advisory Services LLC lifted its stake 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 purchasing an additional 2,000 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Horizon Technology Finance during the 1st quarter valued at about $50,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Horizon Technology Finance during the 1st quarter valued at about $52,000. Tower Research Capital LLC TRC acquired a new position in Horizon Technology Finance during the 2nd quarter valued at about $60,000. Finally, Nations Financial Group Inc. IA ADV acquired a new position in Horizon Technology Finance during the 4th quarter valued at about $67,000. 4.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HRZN has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price objective for the company in a report on Thursday, March 5th. Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Friday, May 8th. Wall Street Zen cut Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, UBS Group lowered their target price on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a report on Monday, May 18th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.65.

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.