Horizon Technology Finance (NASDAQ:HRZN) CFO Acquires $49,910.00 in Stock

Horizon Technology Finance Corporation (NASDAQ:HRZN) CFO Daniel Trolio acquired 11,500 shares of Horizon Technology Finance stock in a transaction that occurred on Wednesday, June 10th. The stock was acquired at an average price 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 $65,199.82. This represents a 326.43% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Horizon Technology Finance Stock Up 2.8%

Shares of Horizon Technology Finance stock traded up $0.12 during trading hours on Wednesday, reaching $4.43. 667,360 shares of the stock traded hands, compared to its average volume of 1,015,078. The company has a 50 day moving average price of $4.30 and a 200 day moving average price of $5.46. The firm has a market capitalization of $302.39 million, a price-to-earnings ratio of 10.30 and a beta of 1.00. Horizon Technology Finance Corporation has a one year low of $3.80 and a one year high of $8.46.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, May 5th. The investment management company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The company had revenue of ($6.19) million during 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%. Sell-side analysts anticipate that Horizon Technology Finance Corporation will post 0.69 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently declared 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 dividend payout ratio is presently 167.44%.

Wall Street Analyst Weigh In

HRZN has been the topic of a number of recent research reports. UBS Group dropped their price target on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating on the stock in a research report on Monday, May 18th. B. Riley Financial decreased their price target on Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a research note on Friday, March 6th. Oppenheimer cut their price target on shares of Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 24th. 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 research note on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Horizon Technology Finance in a research report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Horizon Technology Finance has a consensus rating of “Hold” and an average price target of $5.65.

Hedge Funds Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC boosted its stake in Horizon Technology Finance by 100.0% during the fourth 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 last quarter. ETF Store Inc. raised its position 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 purchasing an additional 3,055 shares during the period. CANADA LIFE ASSURANCE Co raised its position 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 purchasing an additional 7,197 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Horizon Technology Finance in the 2nd quarter valued at $60,000. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in shares of Horizon Technology Finance in the 4th quarter valued at $67,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

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.