Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives $5.65 Average Price Target from Analysts

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $5.65.

A number of brokerages have recently commented on HRZN. Weiss Ratings reissued a “sell (d+)” rating on shares of Horizon Technology Finance in a research report on Friday, May 8th. Zacks Research raised shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. B. Riley Financial lowered their target price on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a report on Friday, March 6th. Oppenheimer lowered their target price on shares of Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Tuesday, March 24th. Finally, Wall Street Zen downgraded shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday, March 7th.

Insider Buying and Selling at Horizon Technology Finance

In other news, CEO Michael Balkin bought 100,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average cost of $4.34 per share, for a total transaction of $434,000.00. Following the completion of the acquisition, the chief executive officer owned 223,527 shares in the company, valued at approximately $970,107.18. This represents a 80.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CIO Paul G. Seitz bought 11,477 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $4.35 per share, for a total transaction of $49,924.95. Following the completion of the acquisition, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 134,977 shares of company stock valued at $585,975 in the last 90 days. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Horizon Technology Finance

Institutional investors and hedge funds have recently modified their holdings of the stock. N.E.W. Advisory Services LLC increased its holdings in shares of Horizon Technology Finance by 100.0% in the fourth 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 during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Horizon Technology Finance in the first quarter valued at $50,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Horizon Technology Finance in the first quarter valued at $52,000. Tower Research Capital LLC TRC acquired a new position in shares of Horizon Technology Finance in the second quarter valued at $60,000. Finally, Nations Financial Group Inc. IA ADV acquired a new position in shares of Horizon Technology Finance in the fourth quarter valued at $67,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Horizon Technology Finance Stock Down 1.4%

Shares of HRZN stock opened at $4.16 on Tuesday. The company’s fifty day simple moving average is $4.29 and its 200-day simple moving average is $5.32. The firm has a market cap of $283.96 million, a PE ratio of 9.67 and a beta of 1.00. Horizon Technology Finance has a 12 month low of $3.80 and a 12 month high of $8.46.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, May 5th. The investment management company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of ($6.19) million for the quarter, compared to analyst estimates of $21.09 million. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. On average, equities analysts predict that Horizon Technology Finance will post 0.69 earnings per share for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 17th will be issued a dividend of $0.03 per share. The ex-dividend date is Monday, August 17th. Horizon Technology Finance’s payout ratio is presently 167.44%.

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.