Horizon Technology Finance (NASDAQ:HRZN) Rating Increased to Strong-Buy at Compass Point

Key Points

• Compass Point upgraded Horizon Technology Finance to “strong buy,” although the broader analyst consensus remains “hold,” with one strong-buy, five hold and one sell rating and a $4.95 average price target.
• HRZN shares opened at $4.82, near their recent moving averages, after the company reported quarterly EPS of $0.11—below the $0.13 consensus estimate—and revenue of negative $44.66 million versus expectations of $25.22 million.
• Insiders bought 134,977 shares worth approximately $586,000 over the past three months, while institutional investors own 4.94% of the company.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) was upgraded by equities research analysts at Compass Point to a "strong-buy" rating in a note issued to investors on Thursday,Zacks.com reports.

HRZN has been the topic of several other research reports. Zacks Research upgraded shares of Horizon Technology Finance from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 7th. Oppenheimer dropped their price objective on shares of Horizon Technology Finance from $6.00 to $5.00 and set a "market perform" rating for the company in a research note on Friday, August 7th. UBS Group reduced 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 report on Monday, May 18th. Keefe, Bruyette & Woods decreased their target price on shares of Horizon Technology Finance from $5.00 to $4.50 and set a "market perform" rating on the stock in a research report on Friday, August 21st. Finally, Weiss Ratings lowered Horizon Technology Finance from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Horizon Technology Finance has an average rating of "Hold" and a consensus price target of $4.95.

Horizon Technology Finance Trading Up 0.6%

Shares of Horizon Technology Finance stock opened at $4.82 on Thursday. The firm has a market cap of $323.10 million, a PE ratio of 13.39 and a beta of 0.98. The stock has a 50 day moving average of $4.63 and a 200 day moving average of $4.66. Horizon Technology Finance has a 12 month low of $3.80 and a 12 month high of $7.07.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of ($44.66) million for the quarter, compared to analysts' expectations of $25.22 million. Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%. As a group, equities research analysts forecast that Horizon Technology Finance will post 0.63 earnings per share for the current fiscal year.

Insider Activity at Horizon Technology Finance

In other news, CFO Daniel R. Trolio bought 11,500 shares of the stock in a transaction dated Wednesday, June 10th. The stock was purchased at an average price of $4.34 per share, for a total transaction of $49,910.00. Following the acquisition, the chief financial officer owned 15,023 shares of the company's stock, valued at $65,199.82. The trade was a 326.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas J. Allison purchased 6,000 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $4.36 per share, for a total transaction of $26,160.00. Following the completion of the acquisition, the director directly owned 55,926 shares in the company, valued at $243,837.36. The trade was a 12.02% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 134,977 shares of company stock valued at $585,975 over the last three months. Corporate insiders own 0.29% of the company's stock.

Institutional Trading of Horizon Technology Finance

Institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its position in shares of Horizon Technology Finance by 300.7% during the second quarter. Quantbot Technologies LP now owns 17,332 shares of the investment management company's stock valued at $125,000 after buying an additional 13,007 shares during the period. Marshall Wace LLP purchased a new stake in shares of Horizon Technology Finance in the second quarter worth approximately $103,000. BNP Paribas Financial Markets purchased a new stake in shares of Horizon Technology Finance in the second quarter worth approximately $122,000. Oxford Asset Management LLP bought a new stake in shares of Horizon Technology Finance during the 2nd quarter worth approximately $285,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Horizon Technology Finance during the 2nd quarter worth approximately $60,000. Institutional investors own 4.94% of the company's stock.

Horizon Technology Finance Company Profile

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.

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