Horizon Technology Finance Corporation (NASDAQ:HRZN) Given Consensus Rating of “Hold” by Brokerages

Horizon Technology Finance Corporation (NASDAQ:HRZN) has received an average recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $5.65.

Several brokerages have recently commented on HRZN. UBS Group reduced their target price on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Zacks Research upgraded shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Keefe, Bruyette & Woods upgraded shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 target price on the stock in a research note on Thursday, March 5th. Finally, B. Riley Financial reduced their target price on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a research note on Friday, March 6th.

Horizon Technology Finance Stock Performance

Shares of NASDAQ:HRZN opened at $4.22 on Tuesday. Horizon Technology Finance has a 52 week low of $3.80 and a 52 week high of $8.46. The company’s fifty day moving average is $4.30 and its 200-day moving average is $5.34. The company has a market capitalization of $288.06 million, a PE ratio of 9.81 and a beta of 1.00.

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

Horizon Technology Finance Announces Dividend

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 given a dividend of $0.03 per share. The ex-dividend date is Monday, August 17th. Horizon Technology Finance’s dividend payout ratio is 167.44%.

Insider Buying and Selling at Horizon Technology Finance

In related news, Director Thomas J. Allison purchased 6,000 shares of Horizon Technology Finance stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average price of $4.36 per share, for a total transaction of $26,160.00. Following the transaction, the director directly owned 55,926 shares in the company, valued at approximately $243,837.36. This represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CIO Paul G. Seitz purchased 11,477 shares of Horizon Technology Finance stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average price of $4.35 per share, for a total transaction of $49,924.95. Following the transaction, the executive owned 12,242 shares in the company, valued at $53,252.70. This represents a 1,500.26% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 134,977 shares of company stock worth $585,975 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Eagle Point Credit Management LLC bought a new stake in Horizon Technology Finance during the 4th quarter worth about $2,385,000. Millennium Management LLC bought a new stake in Horizon Technology Finance during the 3rd quarter worth about $1,099,000. Magnetar Financial LLC bought a new stake in Horizon Technology Finance during the 3rd quarter worth about $435,000. Aquatic Capital Management LLC bought a new stake in Horizon Technology Finance during the 3rd quarter worth about $395,000. Finally, Green Alpha Advisors LLC raised its holdings in Horizon Technology Finance by 11.8% during the 4th quarter. Green Alpha Advisors LLC now owns 558,944 shares of the investment management company’s stock worth $3,605,000 after purchasing an additional 58,915 shares during the last quarter. Institutional investors and hedge funds own 4.94% of the company’s stock.

About Horizon Technology Finance

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.