Horizon Technology Finance (NASDAQ:HRZN) CEO Michael Balkin Purchases 100,000 Shares of Stock

Horizon Technology Finance Corporation (NASDAQ:HRZN) CEO Michael Balkin purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average price of $4.34 per share, for a total transaction of $434,000.00. Following the acquisition, the chief executive officer owned 223,527 shares in the company, valued at $970,107.18. This trade represents a 80.95% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Horizon Technology Finance Price Performance

NASDAQ:HRZN traded up $0.13 during midday trading on Wednesday, hitting $4.44. The company’s stock had a trading volume of 447,655 shares, compared to its average volume of 1,012,994. Horizon Technology Finance Corporation has a fifty-two week low of $3.80 and a fifty-two week high of $8.46. The firm’s 50 day moving average is $4.30 and its 200-day moving average is $5.46. The firm has a market cap of $302.80 million, a P/E ratio of 10.31 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, May 5th. The investment management company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The company had revenue of ($6.19) million for the quarter, compared to the consensus estimate of $21.09 million. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. As a group, analysts forecast that Horizon Technology Finance Corporation will post 0.69 EPS for the current year.

Horizon Technology Finance Announces Dividend

The business 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 of this dividend is Monday, August 17th. Horizon Technology Finance’s dividend payout ratio (DPR) is 167.44%.

Analyst Ratings Changes

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Friday, May 8th. Keefe, Bruyette & Woods upgraded Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price target on the stock in a research report on Thursday, March 5th. UBS Group decreased their target price on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Oppenheimer decreased their target price on Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 24th. Finally, B. Riley Financial decreased their target price on Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a research report on Friday, March 6th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.65.

Hedge Funds Weigh In On Horizon Technology Finance

Several hedge funds and other institutional investors have recently made changes to their positions in the company. N.E.W. Advisory Services LLC lifted its position in Horizon Technology Finance by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock worth $26,000 after buying an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Horizon Technology Finance during the second quarter worth approximately $60,000. Nations Financial Group Inc. IA ADV purchased a new position in Horizon Technology Finance during the fourth quarter worth approximately $67,000. Sanctuary Advisors LLC purchased a new position in Horizon Technology Finance during the first quarter worth approximately $50,000. Finally, HRT Financial LP purchased a new position in Horizon Technology Finance during the fourth quarter worth approximately $77,000. Hedge funds and other institutional investors own 4.94% 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.