Brokerages Set Horizon Technology Finance Co. (NASDAQ:HRZN) PT at $10.38

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been assigned an average rating of “Reduce” from the five research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $10.38.

HRZN has been the topic of several research reports. LADENBURG THALM/SH SH restated a “neutral” rating on shares of Horizon Technology Finance in a research report on Wednesday, February 28th. Oppenheimer decreased their target price on Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st. B. Riley downgraded Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 target price on the stock. in a research report on Monday, January 8th. Finally, UBS Group decreased their target price on Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a research report on Monday, March 18th.

Insider Buying and Selling

In related news, President Gerald A. Michaud acquired 3,650 shares of Horizon Technology Finance stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average price of $11.77 per share, for a total transaction of $42,960.50. Following the completion of the transaction, the president now owns 156,244 shares in the company, valued at approximately $1,838,991.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Horizon Technology Finance

A number of institutional investors have recently added to or reduced their stakes in the stock. Global Assets Advisory LLC purchased a new position in Horizon Technology Finance during the first quarter worth approximately $201,000. Green Alpha Advisors LLC raised its position in Horizon Technology Finance by 15.1% in the first quarter. Green Alpha Advisors LLC now owns 228,943 shares of the investment management company’s stock valued at $2,603,000 after purchasing an additional 29,956 shares during the period. Creekmur Asset Management LLC purchased a new stake in Horizon Technology Finance in the fourth quarter valued at $52,000. Legal & General Group Plc raised its position in Horizon Technology Finance by 126.6% in the fourth quarter. Legal & General Group Plc now owns 248,429 shares of the investment management company’s stock valued at $3,273,000 after purchasing an additional 138,792 shares during the period. Finally, Royal Bank of Canada raised its position in Horizon Technology Finance by 2.5% in the fourth quarter. Royal Bank of Canada now owns 36,819 shares of the investment management company’s stock valued at $485,000 after purchasing an additional 887 shares during the period. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Trading Up 1.1 %

Shares of HRZN opened at $11.49 on Wednesday. Horizon Technology Finance has a 12 month low of $10.75 and a 12 month high of $13.73. The stock’s 50 day moving average is $11.87 and its two-hundred day moving average is $12.34. The firm has a market cap of $383.77 million, a P/E ratio of -23.45 and a beta of 1.21.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings data on Tuesday, February 27th. The investment management company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). Horizon Technology Finance had a negative net margin of 15.14% and a positive return on equity of 18.24%. The business had revenue of $28.18 million during the quarter, compared to analyst estimates of $29.21 million. Equities research analysts forecast that Horizon Technology Finance will post 1.53 EPS for the current year.

Horizon Technology Finance Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, April 16th. Investors of record on Tuesday, March 19th were given a dividend of $0.16 per share. This is an increase from Horizon Technology Finance’s previous dividend of $0.11. The ex-dividend date of this dividend was Monday, March 18th. This represents a yield of 16.48%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -269.38%.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries.