Brokerages Set Horizon Technology Finance Co. (NASDAQ:HRZN) Price Target at $9.35

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been assigned an average rating of “Reduce” from the six brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $9.35.

Separately, Compass Point upgraded Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price objective on the stock in a report on Tuesday.

Insider Transactions at Horizon Technology Finance

In other news, President Gerald A. Michaud acquired 8,000 shares of Horizon Technology Finance stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $9.31 per share, for a total transaction of $74,480.00. Following the acquisition, the president now owns 169,309 shares of the company’s stock, valued at $1,576,266.79. This trade represents a 4.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Balkin acquired 20,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $8.53 per share, with a total value of $170,600.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $170,600. The trade was a ? increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Horizon Technology Finance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its position in shares of Horizon Technology Finance by 810.1% during the 3rd quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock worth $5,330,000 after acquiring an additional 44,555 shares in the last quarter. Paloma Partners Management Co purchased a new stake in Horizon Technology Finance during the third quarter worth approximately $348,000. Dynamic Technology Lab Private Ltd acquired a new position in Horizon Technology Finance in the third quarter valued at approximately $217,000. Adell Harriman & Carpenter Inc. purchased a new position in Horizon Technology Finance in the third quarter valued at approximately $128,000. Finally, Quantbot Technologies LP acquired a new stake in Horizon Technology Finance during the third quarter worth approximately $99,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Horizon Technology Finance Stock Performance

Horizon Technology Finance stock opened at $8.83 on Tuesday. The company has a market capitalization of $309.24 million, a price-to-earnings ratio of -73.58 and a beta of 1.22. The company’s 50 day simple moving average is $9.54 and its 200-day simple moving average is $10.80. Horizon Technology Finance has a 1 year low of $8.46 and a 1 year high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Tuesday, October 29th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The firm had revenue of $24.56 million during the quarter, compared to analysts’ expectations of $25.38 million. During the same period in the previous year, the firm earned $0.53 EPS. Equities analysts expect that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $1.32 annualized dividend and a dividend yield of 14.95%. Horizon Technology Finance’s dividend payout ratio (DPR) is -1,100.00%.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries.