Horizon Technology Finance Corporation (NASDAQ:HRZN – Get Free Report) has been assigned an average rating of “Reduce” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $4.9375.
A number of research analysts have recently commented on HRZN shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Horizon Technology Finance in a research note on Wednesday, August 5th. Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. UBS Group dropped their target price on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a research report on Monday, May 18th. Finally, Oppenheimer cut their price target on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Friday.
Horizon Technology Finance Price Performance
Horizon Technology Finance (NASDAQ:HRZN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company had revenue of ($44.66) million during the quarter, compared to the consensus estimate of $25.22 million. Horizon Technology Finance had a net margin of 5.27% and a return on equity of 11.15%. On average, equities research analysts anticipate that Horizon Technology Finance will post 0.69 EPS for the current fiscal year.
Horizon Technology Finance Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, November 17th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, November 17th. This represents a c) annualized dividend and a yield of 15.2%. Horizon Technology Finance’s dividend payout ratio (DPR) is currently 200.00%.
Insider Activity
In other Horizon Technology Finance news, CFO Daniel R. Trolio purchased 11,500 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer owned 15,023 shares in the company, valued at $65,199.82. The trade was a 326.43% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Joseph Goodman purchased 6,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average cost of $4.33 per share, with a total value of $25,980.00. Following the purchase, the director directly owned 8,312 shares of the company’s stock, valued at approximately $35,990.96. The trade was a 259.52% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 134,977 shares of company stock worth $585,975. Company insiders own 0.29% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. N.E.W. Advisory Services LLC boosted its position in shares of Horizon Technology Finance by 100.0% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Horizon Technology Finance in the second quarter worth approximately $60,000. Nations Financial Group Inc. IA ADV bought a new stake in Horizon Technology Finance in the fourth quarter worth approximately $67,000. Sanctuary Advisors LLC acquired a new position in Horizon Technology Finance in the first quarter valued at approximately $50,000. Finally, HRT Financial LP acquired a new position in Horizon Technology Finance in the fourth quarter valued at approximately $77,000. 4.94% of the stock is 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.
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