Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.12 and traded as high as $12.47. Horizon Technology Finance shares last traded at $12.36, with a volume of 226,691 shares.
Analyst Ratings Changes
A number of analysts have recently issued reports on HRZN shares. Keefe, Bruyette & Woods downgraded shares of Horizon Technology Finance from a "market perform" rating to an "underperform" rating and dropped their price objective for the stock from $11.50 to $10.50 in a report on Tuesday, December 20th. StockNews.com assumed coverage on Horizon Technology Finance in a research report on Wednesday, October 12th. They set a "sell" rating for the company. Janney Montgomery Scott initiated coverage on Horizon Technology Finance in a report on Wednesday, October 5th. They issued a "neutral" rating and a $10.00 target price for the company. Finally, B. Riley reaffirmed a "neutral" rating and set a $10.50 price target on shares of Horizon Technology Finance in a research report on Friday, September 16th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.88.
Get Horizon Technology Finance alerts:Horizon Technology Finance Price Performance
The stock's fifty day simple moving average is $12.51 and its 200-day simple moving average is $12.12. The firm has a market cap of $326.32 million, a PE ratio of 15.26 and a beta of 1.15.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The investment management company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.33 by $0.10. Horizon Technology Finance had a net margin of 26.58% and a return on equity of 11.93%. The company had revenue of $23.25 million for the quarter, compared to analyst estimates of $18.92 million. Analysts expect that Horizon Technology Finance Co. will post 1.42 earnings per share for the current year.Horizon Technology Finance Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, February 17th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $1.32 annualized dividend and a yield of 10.68%. Horizon Technology Finance's payout ratio is 162.96%.
Insider Transactions at Horizon Technology Finance
In related news, President Gerald A. Michaud bought 18,250 shares of the firm's stock in a transaction that occurred on Tuesday, December 20th. The stock was purchased at an average cost of $11.03 per share, for a total transaction of $201,297.50. Following the completion of the acquisition, the president now owns 144,585 shares in the company, valued at approximately $1,594,772.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Horizon Technology Finance news, President Gerald A. Michaud bought 4,000 shares of Horizon Technology Finance stock in a transaction on Tuesday, December 6th. The stock was bought at an average price of $12.90 per share, with a total value of $51,600.00. Following the completion of the acquisition, the president now owns 126,335 shares in the company, valued at $1,629,721.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Gerald A. Michaud purchased 18,250 shares of the business's stock in a transaction dated Tuesday, December 20th. The shares were purchased at an average cost of $11.03 per share, with a total value of $201,297.50. Following the purchase, the president now directly owns 144,585 shares in the company, valued at $1,594,772.55. The disclosure for this purchase can be found here. Insiders bought a total of 27,008 shares of company stock worth $314,902 over the last ninety days. Company insiders own 1.50% of the company's stock.
Institutional Trading of Horizon Technology Finance
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRZN. Green Alpha Advisors LLC grew its holdings in shares of Horizon Technology Finance by 364.2% during the 2nd quarter. Green Alpha Advisors LLC now owns 592,570 shares of the investment management company's stock worth $6,838,000 after purchasing an additional 464,907 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Horizon Technology Finance in the 3rd quarter worth about $323,000. Graypoint LLC bought a new stake in shares of Horizon Technology Finance in the 3rd quarter worth about $290,000. Marshall Wace LLP boosted its holdings in shares of Horizon Technology Finance by 25.8% in the 3rd quarter. Marshall Wace LLP now owns 133,634 shares of the investment management company's stock valued at $1,338,000 after buying an additional 27,432 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of Horizon Technology Finance in the 2nd quarter valued at about $287,000. Hedge funds and other institutional investors own 9.82% of the company's stock.
About Horizon Technology Finance
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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, and cleantech industries.
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