Horizon Technology Finance (NASDAQ:HRZN) Announces Quarterly Earnings Results

Key Points

• Horizon Technology Finance reported a significant quarterly loss, with EPS of $0.57 below expectations of $0.13 and revenue of negative $44.66 million versus the $25.22 million consensus estimate.
• Shares traded near $4.55, within a 52-week range of $3.80 to $7.76. Analysts maintain a consensus “Hold” rating with a $5.65 price target.
• Company insiders bought 134,977 shares worth approximately $585,975 over the past 90 days, while hedge funds and institutional investors own 4.94% of the stock.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) released its quarterly earnings data on Tuesday. The investment management company reported ($0.57) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.70), FiscalAI reports. The business had revenue of ($44.66) million during the quarter, compared to analysts' expectations of $25.22 million. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%.

Horizon Technology Finance Price Performance

NASDAQ:HRZN traded up $0.04 during trading hours on Tuesday, reaching $4.55. The company had a trading volume of 431,259 shares, compared to its average volume of 920,510. Horizon Technology Finance has a 1-year low of $3.80 and a 1-year high of $7.76. The business's 50 day moving average price is $4.47 and its 200-day moving average price is $4.90. The firm has a market cap of $310.79 million, a PE ratio of 10.59 and a beta of 0.98.

Wall Street Analysts Forecast Growth

HRZN has been the subject of several recent research reports. Zacks Research raised shares of Horizon Technology Finance from a "strong sell" rating to a "hold" rating in a report on Thursday, May 7th. UBS Group lowered their price target 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. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Horizon Technology Finance in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Horizon Technology Finance currently has a consensus rating of "Hold" and a consensus price target of $5.65.

Insider Buying and Selling at Horizon Technology Finance

In other news, CFO Daniel R. Trolio purchased 11,500 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The shares were bought at an average price of $4.34 per share, for a total transaction of $49,910.00. Following the completion of the transaction, the chief financial officer owned 15,023 shares in the company, valued at $65,199.82. This represents a 326.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jonathan Joseph Goodman purchased 6,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $4.33 per share, for a total transaction of $25,980.00. Following the transaction, the director owned 8,312 shares of the company's stock, valued at $35,990.96. This trade represents a 259.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 134,977 shares of company stock worth $585,975. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Horizon Technology Finance

Hedge funds have recently modified their holdings of the company. Eagle Point Credit Management LLC purchased a new position in Horizon Technology Finance in the 4th quarter valued at about $2,385,000. Millennium Management LLC purchased a new stake in Horizon Technology Finance during the 3rd quarter worth approximately $1,099,000. Magnetar Financial LLC purchased a new stake in Horizon Technology Finance during the 3rd quarter worth approximately $435,000. Aquatic Capital Management LLC acquired a new position in shares of Horizon Technology Finance during the third quarter valued at approximately $395,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Horizon Technology Finance during the fourth quarter valued at approximately $365,000. 4.94% of the stock is owned by hedge funds and other institutional investors.

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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