Horizon Technology Finance (NASDAQ:HRZN) Price Target Lowered to $5.00 at Oppenheimer

Horizon Technology Finance (NASDAQ:HRZN) had its target price trimmed by Oppenheimer from $6.00 to $5.00 in a report published on Friday morning, Marketbeat.com reports. The firm currently has a market perform rating on the investment management company’s stock.

Several other equities research analysts have also recently weighed in on HRZN. Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. UBS Group cut their price target on 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. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Wednesday. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Horizon Technology Finance has an average rating of “Hold” and an average target price of $5.45.

Horizon Technology Finance Price Performance

Shares of HRZN stock opened at $4.64 on Friday. The company has a market capitalization of $311.02 million, a P/E ratio of 12.89 and a beta of 0.98. The company’s 50-day simple moving average is $4.50 and its two-hundred day simple moving average is $4.85. Horizon Technology Finance has a one year low of $3.80 and a one year high of $7.28.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings results on Tuesday, August 4th. The investment management company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Horizon Technology Finance had a net margin of 5.27% and a return on equity of 11.15%. The company had revenue of ($44.66) million for the quarter, compared to the consensus estimate of $25.22 million. On average, research analysts expect that Horizon Technology Finance will post 0.69 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, November 17th will be issued a $0.06 dividend. The ex-dividend date is Tuesday, November 17th. This represents a c) dividend on an annualized basis and a dividend yield of 15.5%. Horizon Technology Finance’s dividend payout ratio (DPR) is currently 200.00%.

Insiders Place Their Bets

In related news, Director Thomas J. Allison bought 6,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $4.36 per share, for a total transaction of $26,160.00. Following the completion of the purchase, the director directly owned 55,926 shares of the company’s stock, valued at approximately $243,837.36. This trade represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Balkin bought 100,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $4.34 per share, for a total transaction of $434,000.00. Following the purchase, the chief executive officer directly owned 223,527 shares of the company’s stock, valued at $970,107.18. The trade was a 80.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 134,977 shares of company stock worth $585,975. Insiders own 0.29% of the company’s stock.

Institutional Trading of Horizon Technology Finance

A number of institutional investors have recently modified their holdings of the company. Leading Edge Financial Planning LLC bought a new position in shares of Horizon Technology Finance during the 2nd quarter worth approximately $79,000. HRT Financial LP acquired a new stake in shares of Horizon Technology Finance in the 4th quarter worth $77,000. Virtu Financial LLC acquired a new position in Horizon Technology Finance during the 3rd quarter valued at about $119,000. Tower Research Capital LLC TRC purchased a new stake in Horizon Technology Finance in the second quarter valued at about $60,000. Finally, BNP Paribas Financial Markets purchased a new stake in Horizon Technology Finance in the second quarter valued at about $122,000. 4.94% of the stock is currently owned by institutional investors.

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.