Horizon Technology Finance Co. (NASDAQ:HRZN) Director Michael Balkin Buys 20,000 Shares

Horizon Technology Finance Co. (NASDAQ:HRZN) Director Michael Balkin bought 20,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were bought at an average price of $8.53 per share, for a total transaction of $170,600.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $170,600. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Horizon Technology Finance Price Performance

Horizon Technology Finance stock opened at $8.79 on Wednesday. The stock’s fifty day moving average price is $9.61 and its two-hundred day moving average price is $10.83. The firm has a market cap of $334.56 million, a PE ratio of -73.25 and a beta of 1.22. Horizon Technology Finance Co. has a one year low of $8.46 and a one year high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, October 29th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The firm had revenue of $24.56 million during the quarter, compared to the consensus estimate of $25.38 million. During the same period in the prior year, the business earned $0.53 earnings per share. Sell-side analysts expect that Horizon Technology Finance Co. will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 15.02%. The ex-dividend date is Thursday, January 16th. Horizon Technology Finance’s dividend payout ratio is presently -1,100.00%.

Hedge Funds Weigh In On Horizon Technology Finance

A number of institutional investors have recently modified their holdings of HRZN. International Assets Investment Management LLC bought a new position in Horizon Technology Finance in the second quarter valued at about $66,000. Commonwealth Equity Services LLC increased its position in Horizon Technology Finance by 4.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 23,776 shares of the investment management company’s stock worth $286,000 after purchasing an additional 1,113 shares in the last quarter. ETF Store Inc. lifted its stake in Horizon Technology Finance by 4.4% in the 2nd quarter. ETF Store Inc. now owns 50,942 shares of the investment management company’s stock valued at $613,000 after purchasing an additional 2,136 shares during the last quarter. Green Alpha Advisors LLC increased its holdings in shares of Horizon Technology Finance by 1.8% during the third quarter. Green Alpha Advisors LLC now owns 226,738 shares of the investment management company’s stock worth $2,415,000 after buying an additional 3,928 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. bought a new position in shares of Horizon Technology Finance in the 3rd quarter valued at $128,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Compass Point upgraded Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.35.

About Horizon Technology Finance

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.