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 brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $5.65.

Several equities analysts have commented on HRZN shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Horizon Technology Finance in a research note on Friday, May 8th. Oppenheimer reduced their price objective on shares of Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Tuesday, March 24th. Zacks Research upgraded shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. Finally, UBS Group dropped their target price on shares of 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.

Insider Buying and Selling at Horizon Technology Finance

In other news, Director Jonathan Joseph Goodman bought 6,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $4.33 per share, for a total transaction of $25,980.00. Following the completion of the transaction, the director owned 8,312 shares of the company’s stock, valued at approximately $35,990.96. This trade represents a 259.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CIO Paul G. Seitz bought 11,477 shares of Horizon Technology Finance stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average cost of $4.35 per share, with a total value of $49,924.95. Following the completion of the acquisition, the executive directly owned 12,242 shares in the company, valued at approximately $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. In the last three months, insiders have acquired 134,977 shares of company stock valued at $585,975. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HRZN. N.E.W. Advisory Services LLC raised its position in Horizon Technology Finance by 100.0% in the 4th 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 purchased a new position in Horizon Technology Finance during the 1st quarter worth $50,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Horizon Technology Finance during the 1st quarter worth $52,000. Tower Research Capital LLC TRC acquired a new position in Horizon Technology Finance in the second quarter valued at $60,000. Finally, Chapin Davis Inc. acquired a new position in Horizon Technology Finance in the second quarter valued at $60,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Price Performance

Horizon Technology Finance stock opened at $4.71 on Friday. The stock has a market cap of $321.50 million, a PE ratio of 10.95 and a beta of 0.97. The stock’s fifty day moving average is $4.40 and its two-hundred day moving average is $5.10. Horizon Technology Finance has a 1-year low of $3.80 and a 1-year high of $8.46.

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

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 17th will be paid a $0.03 dividend. The ex-dividend date is Monday, August 17th. Horizon Technology Finance’s dividend payout ratio is currently 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.