Horizon Technology Finance Corporation (NASDAQ:HRZN) Given Average Rating of "Hold" by Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Horizon Technology Finance, with five hold, one buy and one sell rating; the average 12-month price target is $4.95.
• Horizon reported quarterly EPS of $0.11, below the $0.13 consensus estimate, while analysts expect full-year EPS of $0.63. The stock opened at $4.70 and remains well below its 52-week high of $7.07.
• Company insiders purchased 134,977 shares worth approximately $586,000 over the past 90 days, including a 100,000-share purchase by CEO Michael Balkin. Horizon also announced a $0.06 monthly dividend, implying a 15.3% yield, though its payout ratio is 200%.

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN - Get Free Report) have been assigned a consensus rating of "Hold" from the seven analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.95.

HRZN has been the subject of several recent analyst reports. Compass Point assumed coverage on shares of Horizon Technology Finance in a research report on Thursday. They set a "buy" rating and a $5.50 price objective for the company. Keefe, Bruyette & Woods dropped their price target on shares of Horizon Technology Finance from $5.00 to $4.50 and set a "market perform" rating for the company in a research note on Friday, August 21st. Weiss Ratings cut shares of Horizon Technology Finance from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday, August 19th. Oppenheimer cut their price target on shares of Horizon Technology Finance from $6.00 to $5.00 and set a "market perform" rating for the company in a report on Friday, August 7th. Finally, Zacks Research raised shares of Horizon Technology Finance from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 7th.

Insiders Place Their Bets

In other Horizon Technology Finance news, CIO Paul G. Seitz bought 11,477 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $4.35 per share, with a total value of $49,924.95. Following the transaction, the executive owned 12,242 shares in the company, valued at $53,252.70. This trade represents a 1,500.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Balkin purchased 100,000 shares of Horizon Technology Finance stock in a transaction on Tuesday, June 9th. The shares were acquired at an average cost of $4.34 per share, for a total transaction of $434,000.00. Following the completion of the transaction, the chief executive officer owned 223,527 shares of the company's stock, valued at $970,107.18. This represents a 80.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 134,977 shares of company stock valued at $585,975. Corporate insiders own 0.29% of the company's stock.

Institutional Trading of Horizon Technology Finance

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC acquired a new position in shares of Horizon Technology Finance in the 2nd quarter valued at about $60,000. Ausdal Financial Partners Inc. acquired a new stake in Horizon Technology Finance during the second quarter worth about $54,000. Sanctuary Advisors LLC acquired a new stake in Horizon Technology Finance during the first quarter worth about $50,000. HRT Financial LP bought a new position in Horizon Technology Finance in the fourth quarter worth about $77,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in Horizon Technology Finance in the first quarter worth about $52,000. 4.94% of the stock is owned by institutional investors and hedge funds.

Horizon Technology Finance Price Performance

NASDAQ:HRZN opened at $4.70 on Monday. Horizon Technology Finance has a 1-year low of $3.80 and a 1-year high of $7.07. The company has a 50-day moving average of $4.64 and a 200 day moving average of $4.65. The firm has a market cap of $315.06 million, a PE ratio of 13.06 and a beta of 0.98.

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

Horizon Technology Finance Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, November 17th will be paid a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 15.3%. The ex-dividend date is Tuesday, November 17th. Horizon Technology Finance's dividend payout ratio (DPR) is 200.00%.

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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