Horizon Technology Finance (NASDAQ:HRZN) Posts Earnings Results, Misses Estimates By $0.06 EPS

Horizon Technology Finance (NASDAQ:HRZN) issued its earnings results on Tuesday. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.06), Zacks reports. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The firm had revenue of $23.55 million during the quarter, compared to analyst estimates of $25.69 million.

Horizon Technology Finance Stock Down 9.9 %

HRZN stock opened at $8.65 on Thursday. The firm has a market capitalization of $344.93 million, a PE ratio of -72.08 and a beta of 1.22. Horizon Technology Finance has a twelve month low of $8.46 and a twelve month high of $12.63. The stock’s 50 day moving average is $9.39 and its 200-day moving average is $9.83.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. StockNews.com cut Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price target for the company in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, Horizon Technology Finance currently has a consensus rating of “Reduce” and a consensus target price of $9.19.

Insider Buying and Selling

In other news, Director Michael Balkin acquired 20,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $8.53 per share, with a total value of $170,600.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $170,600. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.34% of the stock is currently owned by corporate insiders.

About Horizon Technology Finance

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.