Horizon Technology Finance (NASDAQ:HRZN) Releases Earnings Results, Misses Expectations By $0.70 EPS

Horizon Technology Finance (NASDAQ:HRZN) posted its quarterly earnings results on Tuesday. The investment management company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.70), FiscalAI reports. The business had revenue of ($44.66) million during the quarter, compared to analysts’ expectations of $25.22 million. Horizon Technology Finance had a return on equity of 13.63% and a net margin of 22.55%.

Horizon Technology Finance Stock Up 1.0%

Shares of HRZN traded up $0.04 during midday trading on Tuesday, reaching $4.55. The company had a trading volume of 431,259 shares, compared to its average volume of 920,510. Horizon Technology Finance has a 1-year low of $3.80 and a 1-year high of $7.76. The firm has a 50 day simple moving average of $4.47 and a 200-day simple moving average of $4.90. The stock has a market cap of $310.79 million, a PE ratio of 10.59 and a beta of 0.98.

Insider Activity

In other news, CFO Daniel R. Trolio acquired 11,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was purchased at an average cost of $4.34 per share, for a total transaction of $49,910.00. Following the completion of the transaction, the chief financial officer owned 15,023 shares in the company, valued at approximately $65,199.82. This trade represents a 326.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CIO Paul G. Seitz acquired 11,477 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $4.35 per share, with a total value of $49,924.95. Following the completion of the transaction, the executive owned 12,242 shares of the company’s stock, valued at $53,252.70. The trade was a 1,500.26% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 134,977 shares of company stock worth $585,975. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Horizon Technology Finance

Several institutional investors and hedge funds have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its stake in shares of 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 Horizon Technology Finance during the 2nd quarter worth approximately $60,000. HRT Financial LP purchased a new stake in Horizon Technology Finance during the 4th quarter worth approximately $77,000. Quantbot Technologies LP lifted its holdings in Horizon Technology Finance by 300.7% during the 2nd quarter. Quantbot Technologies LP now owns 17,332 shares of the investment management company’s stock worth $125,000 after buying an additional 13,007 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Horizon Technology Finance during the 2nd quarter worth approximately $103,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HRZN has been the subject of several research reports. UBS Group dropped their price objective on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a research note on Monday, May 18th. Weiss Ratings reissued a “sell (d+)” rating on shares of Horizon Technology Finance in a research note on Friday, May 8th. Finally, Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Horizon Technology Finance presently has an average rating of “Hold” and an average price target of $5.65.

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.