Horizon Technology Finance Co. (NASDAQ:HRZN) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been assigned a consensus recommendation of “Reduce” from the six analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $9.35.

Separately, Compass Point raised shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price on the stock in a research report on Tuesday, December 17th.

Horizon Technology Finance Stock Performance

Shares of NASDAQ:HRZN opened at $9.62 on Wednesday. The business’s 50-day simple moving average is $9.20 and its 200 day simple moving average is $10.01. Horizon Technology Finance has a one year low of $8.46 and a one year high of $13.42. The company has a market cap of $383.65 million, a P/E ratio of -80.17 and a beta of 1.22.

Insiders Place Their Bets

In other news, Director Michael Balkin purchased 20,000 shares of Horizon Technology Finance stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $8.53 per share, with a total value of $170,600.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $170,600. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Gerald A. Michaud bought 8,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $9.31 per share, with a total value of $74,480.00. Following the transaction, the president now owns 169,309 shares in the company, valued at $1,576,266.79. The trade was a 4.96 % increase in their position. The disclosure for this purchase can be found here. 1.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Horizon Technology Finance

Several large investors have recently added to or reduced their stakes in the business. Green Alpha Advisors LLC raised its stake in shares of Horizon Technology Finance by 28.1% during the fourth quarter. Green Alpha Advisors LLC now owns 290,447 shares of the investment management company’s stock valued at $2,611,000 after purchasing an additional 63,709 shares in the last quarter. LPL Financial LLC raised its stake in shares of Horizon Technology Finance by 9.7% during the fourth quarter. LPL Financial LLC now owns 176,871 shares of the investment management company’s stock valued at $1,590,000 after purchasing an additional 15,670 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Horizon Technology Finance during the fourth quarter valued at about $788,000. ETF Store Inc. lifted its stake in shares of Horizon Technology Finance by 3.7% in the 3rd quarter. ETF Store Inc. now owns 52,813 shares of the investment management company’s stock worth $562,000 after acquiring an additional 1,871 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of Horizon Technology Finance by 810.1% in the 3rd quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock worth $5,330,000 after acquiring an additional 44,555 shares during the period. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Horizon Technology Finance Company Profile

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.