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

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) have been given an average rating of “Hold” by the six analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $10.88.

A number of research firms recently weighed in on HRZN. B. Riley reaffirmed a “neutral” rating and issued a $10.50 target price on shares of Horizon Technology Finance in a research report on Friday, September 16th. StockNews.com initiated coverage on shares of Horizon Technology Finance in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. Janney Montgomery Scott initiated coverage on shares of Horizon Technology Finance in a research note on Wednesday, October 5th. They issued a “neutral” rating and a $10.00 price target for the company. Finally, Keefe, Bruyette & Woods cut shares of Horizon Technology Finance from a “market perform” rating to an “underperform” rating and cut their price target for the company from $11.50 to $10.50 in a research note on Tuesday, December 20th.

Insider Transactions at Horizon Technology Finance

In related news, President Gerald A. Michaud bought 18,250 shares of the business’s stock in a transaction dated Tuesday, December 20th. The stock was bought at an average price of $11.03 per share, for a total transaction of $201,297.50. Following the purchase, the president now owns 144,585 shares in the company, valued at approximately $1,594,772.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Horizon Technology Finance news, CEO Robert D. Jr. Pomeroy purchased 4,000 shares of the stock in a transaction that occurred on Friday, December 9th. The shares were acquired at an average cost of $13.03 per share, with a total value of $52,120.00. Following the completion of the transaction, the chief executive officer now owns 172,821 shares in the company, valued at $2,251,857.63. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Gerald A. Michaud purchased 18,250 shares of the stock in a transaction that occurred on Tuesday, December 20th. The shares were acquired at an average cost of $11.03 per share, for a total transaction of $201,297.50. Following the completion of the transaction, the president now owns 144,585 shares of the company’s stock, valued at approximately $1,594,772.55. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 27,008 shares of company stock worth $314,902. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Horizon Technology Finance

A number of hedge funds have recently bought and sold shares of HRZN. PNC Financial Services Group Inc. bought a new position in Horizon Technology Finance during the first quarter worth about $28,000. JPMorgan Chase & Co. increased its position in Horizon Technology Finance by 86.5% during the second quarter. JPMorgan Chase & Co. now owns 3,969 shares of the investment management company’s stock worth $46,000 after acquiring an additional 1,841 shares during the period. BNP Paribas Arbitrage SNC bought a new position in Horizon Technology Finance in the 3rd quarter valued at about $52,000. BDO Wealth Advisors LLC increased its holdings in Horizon Technology Finance by 146.4% in the 2nd quarter. BDO Wealth Advisors LLC now owns 5,890 shares of the investment management company’s stock valued at $68,000 after buying an additional 3,500 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in Horizon Technology Finance by 508.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,472 shares of the investment management company’s stock valued at $76,000 after buying an additional 4,572 shares during the period. 9.82% of the stock is owned by institutional investors.

Horizon Technology Finance Trading Up 0.3 %

Horizon Technology Finance stock opened at $12.40 on Friday. The company has a market cap of $327.37 million, a P/E ratio of 15.31 and a beta of 1.15. Horizon Technology Finance has a 1-year low of $9.67 and a 1-year high of $16.49. The company has a fifty day simple moving average of $12.49 and a 200 day simple moving average of $12.12.

Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last released its earnings results on Tuesday, November 1st. The investment management company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The business had revenue of $23.25 million during the quarter, compared to the consensus estimate of $18.92 million. Horizon Technology Finance had a net margin of 26.58% and a return on equity of 11.93%. On average, equities research analysts forecast that Horizon Technology Finance will post 1.42 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Friday, February 17th will be paid a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.65%. The ex-dividend date is Thursday, February 16th. Horizon Technology Finance’s dividend payout ratio is presently 162.96%.

About Horizon Technology Finance

(Get Rating)

Horizon Technology Finance Corp. operates as a specialty finance company, which engages in the provision of capital in the form of secured loans to venture capital backed companies. It is also involved in lending and investing in portfolio companies in technology, life science, healthcare information and services and cleantech industries.