Horizon Technology Finance Co. (NASDAQ:HRZN) Given Average Recommendation of “Reduce” by Brokerages

Horizon Technology Finance Co. (NASDAQ:HRZN) has been given an average recommendation of “Reduce” by the five analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $9.75.

HRZN has been the subject of several recent analyst reports. Compass Point raised shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price objective on the stock in a research report on Tuesday, December 17th. StockNews.com downgraded Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods cut their price objective on Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating on the stock in a report on Friday. Finally, Maxim Group cut their price objective on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday.

Insiders Place Their Bets

In other Horizon Technology Finance news, Director Michael Balkin purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $8.53 per share, for a total transaction of $170,600.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $170,600. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Horizon Technology Finance

A number of hedge funds have recently bought and sold shares of HRZN. Two Sigma Advisers LP lifted its stake in Horizon Technology Finance by 44.6% in the 4th quarter. Two Sigma Advisers LP now owns 49,897 shares of the investment management company’s stock worth $449,000 after acquiring an additional 15,397 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new stake in Horizon Technology Finance in the fourth quarter valued at approximately $220,000. Brevan Howard Capital Management LP boosted its position in shares of Horizon Technology Finance by 15.1% during the fourth quarter. Brevan Howard Capital Management LP now owns 16,093 shares of the investment management company’s stock worth $145,000 after buying an additional 2,108 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Horizon Technology Finance in the 4th quarter valued at approximately $173,000. Finally, Jane Street Group LLC acquired a new position in Horizon Technology Finance in the 4th quarter valued at about $447,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Horizon Technology Finance Stock Performance

Shares of NASDAQ HRZN traded up $0.12 during mid-day trading on Monday, reaching $9.39. The company’s stock had a trading volume of 410,286 shares, compared to its average volume of 342,226. The stock has a market capitalization of $378.56 million, a P/E ratio of -78.25 and a beta of 1.18. Horizon Technology Finance has a 1-year low of $8.46 and a 1-year high of $12.63. The stock has a 50-day moving average of $9.39 and a two-hundred day moving average of $9.79.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings results on Tuesday, March 4th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The company had revenue of $23.55 million for the quarter, compared to analyst estimates of $25.69 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. Analysts predict that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $0.11 dividend. This represents a $1.32 annualized dividend and a dividend yield of 14.06%. The ex-dividend date is Monday, March 17th. Horizon Technology Finance’s payout ratio is -1,100.00%.

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.