Horizon Technology Finance Co. (NASDAQ:HRZN) Given Average Rating of “Reduce” by Brokerages

Horizon Technology Finance Co. (NASDAQ:HRZN) has received a consensus rating of “Reduce” from the six ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $9.35.

Separately, Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price objective for the company in a research report on Tuesday, December 17th.

Insider Transactions at Horizon Technology Finance

In other news, Director Michael Balkin bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $8.53 per share, with a total value of $170,600.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $170,600. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Gerald A. Michaud purchased 8,000 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $9.31 per share, for a total transaction of $74,480.00. Following the completion of the acquisition, the president now owns 169,309 shares of the company’s stock, valued at $1,576,266.79. The trade was a 4.96 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its position in Horizon Technology Finance by 4.9% during the second quarter. Commonwealth Equity Services LLC now owns 23,776 shares of the investment management company’s stock worth $286,000 after buying an additional 1,113 shares in the last quarter. ETF Store Inc. grew its stake in Horizon Technology Finance by 3.7% during the 3rd quarter. ETF Store Inc. now owns 52,813 shares of the investment management company’s stock worth $562,000 after purchasing an additional 1,871 shares in the last quarter. First Financial Bank Trust Division increased its stake in shares of Horizon Technology Finance by 5.0% during the fourth quarter. First Financial Bank Trust Division now owns 45,725 shares of the investment management company’s stock worth $411,000 after buying an additional 2,173 shares during the period. Farther Finance Advisors LLC acquired a new position in Horizon Technology Finance during the 3rd quarter worth approximately $25,000. Finally, Private Trust Co. NA purchased a new position in shares of Horizon Technology Finance in the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Stock Performance

Shares of Horizon Technology Finance stock opened at $9.11 on Friday. Horizon Technology Finance has a fifty-two week low of $8.46 and a fifty-two week high of $13.71. The company has a market capitalization of $363.27 million, a P/E ratio of -75.92 and a beta of 1.21. The company has a fifty day moving average of $9.19 and a 200 day moving average of $10.50.

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

Horizon Technology Finance Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be issued a $0.11 dividend. The ex-dividend date is Thursday, January 16th. This represents a $1.32 dividend on an annualized basis and a yield of 14.49%. Horizon Technology Finance’s dividend payout ratio is presently -1,100.00%.

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.