Horizon Technology Finance (NASDAQ:HRZN) Upgraded at Compass Point

Compass Point upgraded shares of Horizon Technology Finance (NASDAQ:HRZN) from a sell rating to a neutral rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $8.25 target price on the investment management company’s stock.

Horizon Technology Finance Stock Up 0.5 %

HRZN opened at $8.83 on Tuesday. Horizon Technology Finance has a 52 week low of $8.46 and a 52 week high of $13.73. The business’s 50 day moving average is $9.54 and its two-hundred day moving average is $10.80. The firm has a market cap of $309.24 million, a price-to-earnings ratio of -73.58 and a beta of 1.22.

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

Horizon Technology Finance Dividend Announcement

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

Insider Buying and Selling at Horizon Technology Finance

In other news, President Gerald A. Michaud acquired 8,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $9.31 per share, for a total transaction of $74,480.00. Following the transaction, the president now directly owns 169,309 shares in the company, valued at approximately $1,576,266.79. This represents a 4.96 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Balkin acquired 20,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was purchased at an average cost of $8.53 per share, for a total transaction of $170,600.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $170,600. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Institutional Trading of Horizon Technology Finance

Several hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in Horizon Technology Finance by 810.1% during the third quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock worth $5,330,000 after purchasing an additional 44,555 shares in the last quarter. Paloma Partners Management Co acquired a new position in Horizon Technology Finance during the 3rd quarter worth approximately $348,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Horizon Technology Finance during the 3rd quarter worth approximately $217,000. Adell Harriman & Carpenter Inc. purchased a new position in shares of Horizon Technology Finance during the 3rd quarter worth approximately $128,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Horizon Technology Finance in the 3rd quarter valued at approximately $99,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

About Horizon Technology Finance

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.