Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) has been given an average rating of "Hold" by the six research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $10.88.
Several equities analysts recently commented on HRZN shares. StockNews.com assumed coverage on shares of Horizon Technology Finance in a report on Wednesday, October 12th. They set a "sell" rating on the stock. Keefe, Bruyette & Woods cut Horizon Technology Finance from a "market perform" rating to an "underperform" rating and cut their target price for the company from $11.50 to $10.50 in a research note on Tuesday, December 20th. Finally, Janney Montgomery Scott began coverage on Horizon Technology Finance in a research note on Wednesday, October 5th. They set a "neutral" rating and a $10.00 target price on the stock.
Get Horizon Technology Finance alerts:Horizon Technology Finance Stock Up 2.6 %
HRZN stock opened at $11.91 on Friday. Horizon Technology Finance has a 52 week low of $9.67 and a 52 week high of $16.39. The company has a fifty day simple moving average of $12.38 and a two-hundred day simple moving average of $12.13. The firm has a market capitalization of $314.44 million, a P/E ratio of 14.70 and a beta of 1.15.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last released its quarterly earnings data 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 business had revenue of $23.25 million during the quarter, compared to analyst estimates of $18.92 million. As a group, analysts anticipate that Horizon Technology Finance will post 1.42 EPS for the current year.Horizon Technology Finance Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, February 17th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.08%. Horizon Technology Finance's payout ratio is 162.96%.
Insider Activity at Horizon Technology Finance
In other news, President Gerald A. Michaud purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was purchased at an average price of $12.90 per share, for a total transaction of $51,600.00. Following the completion of the acquisition, the president now owns 126,335 shares of the company's stock, valued at $1,629,721.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Gerald A. Michaud purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was purchased at an average price of $12.90 per share, for a total transaction of $51,600.00. Following the completion of the acquisition, the president now owns 126,335 shares of the company's stock, valued at $1,629,721.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Gerald A. Michaud purchased 18,250 shares of the stock in a transaction that occurred on Tuesday, December 20th. The stock was purchased at an average price of $11.03 per share, with a total value of $201,297.50. Following the acquisition, the president now directly 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. Over the last quarter, insiders bought 27,008 shares of company stock worth $314,902. Company insiders own 1.50% of the company's stock.
Institutional Trading of Horizon Technology Finance
A number of hedge funds have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware purchased a new stake in Horizon Technology Finance during the fourth quarter worth $871,000. Green Alpha Advisors LLC lifted its holdings in Horizon Technology Finance by 28.1% during the fourth quarter. Green Alpha Advisors LLC now owns 193,040 shares of the investment management company's stock worth $2,239,000 after buying an additional 42,381 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Horizon Technology Finance by 18.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 16,165 shares of the investment management company's stock worth $162,000 after buying an additional 2,548 shares during the period. BNP Paribas Arbitrage SNC purchased a new stake in Horizon Technology Finance during the third quarter worth $52,000. Finally, Quadrature Capital Ltd purchased a new stake in Horizon Technology Finance during the third quarter worth $323,000. 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 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.
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