Green Alpha Advisors LLC Makes New Investment in Horizon Technology Finance Corporation $HRZN

Green Alpha Advisors LLC purchased a new stake in shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 429,913 shares of the investment management company’s stock, valued at approximately $2,033,000. Horizon Technology Finance comprises 1.4% of Green Alpha Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. Green Alpha Advisors LLC owned 0.64% of Horizon Technology Finance at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Eagle Point Credit Management LLC acquired a new stake in shares of Horizon Technology Finance during the fourth quarter worth about $2,385,000. BlackRock Inc. acquired a new stake in Horizon Technology Finance during the 2nd quarter valued at approximately $856,000. Millennium Management LLC purchased a new stake in shares of Horizon Technology Finance in the 3rd quarter valued at $1,099,000. UBS Group AG increased its stake in shares of Horizon Technology Finance by 40.3% in the third quarter. UBS Group AG now owns 106,964 shares of the investment management company’s stock worth $652,000 after acquiring an additional 30,716 shares during the period. Finally, Magnetar Financial LLC purchased a new position in shares of Horizon Technology Finance during the third quarter worth $435,000. 4.94% of the stock is owned by institutional investors and hedge funds.

Horizon Technology Finance Trading Down 2.0%

NASDAQ HRZN opened at $4.82 on Friday. The stock has a market capitalization of $323.10 million, a price-to-earnings ratio of 13.39 and a beta of 0.98. The stock has a 50-day moving average of $4.59 and a 200 day moving average of $4.73. Horizon Technology Finance Corporation has a twelve month low of $3.80 and a twelve month high of $7.07.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of ($44.66) million during the quarter, compared to analysts’ expectations of $25.22 million. Equities analysts predict that Horizon Technology Finance Corporation will post 0.63 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders 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) dividend on an annualized basis and a yield of 14.9%. Horizon Technology Finance’s dividend payout ratio is currently 200.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HRZN shares. Oppenheimer decreased their target price on shares of Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Friday, August 7th. UBS Group reduced their price objective on 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. Zacks Research raised Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods lowered their target price on Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating on the stock in a research note on Friday. Finally, Weiss Ratings lowered Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Horizon Technology Finance has an average rating of “Reduce” and an average target price of $4.81.

Insider Buying and Selling at Horizon Technology Finance

In related news, CFO Daniel R. Trolio bought 11,500 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were acquired at an average price of $4.34 per share, for a total transaction of $49,910.00. Following the completion of the transaction, the chief financial officer directly owned 15,023 shares in the company, valued at $65,199.82. This trade represents a 326.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Balkin bought 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were bought at an average cost of $4.34 per share, with a total value of $434,000.00. Following the purchase, the chief executive officer directly owned 223,527 shares of the company’s stock, valued at approximately $970,107.18. This represents a 80.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 134,977 shares of company stock valued at $585,975. Insiders own 0.29% 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.