Insider Buying: Horizon Technology Finance Co. (NASDAQ:HRZN) Director Buys 20,000 Shares of Stock

Horizon Technology Finance Co. (NASDAQ:HRZN) Director Michael Balkin acquired 20,000 shares of Horizon Technology Finance stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average price of $8.53 per share, for a total transaction of $170,600.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $170,600. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Horizon Technology Finance Stock Performance

HRZN opened at $8.83 on Friday. The stock has a market capitalization of $309.24 million, a PE ratio of -73.58 and a beta of 1.22. Horizon Technology Finance Co. has a one year low of $8.46 and a one year high of $13.73. The business’s 50 day moving average price is $9.54 and its 200 day moving average price is $10.80.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, October 29th. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $24.56 million during the quarter, compared to analysts’ expectations of $25.38 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, equities research analysts forecast that Horizon Technology Finance Co. will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 14.95%. The ex-dividend date is Thursday, January 16th. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -1,100.00%.

Institutional Investors Weigh In On Horizon Technology Finance

A number of institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC purchased a new position in shares of Horizon Technology Finance during the 3rd quarter worth approximately $25,000. Private Trust Co. NA acquired a new position in Horizon Technology Finance during the third quarter worth $38,000. International Assets Investment Management LLC purchased a new position in shares of Horizon Technology Finance during the second quarter worth $66,000. Quantbot Technologies LP acquired a new stake in shares of Horizon Technology Finance in the third quarter valued at $99,000. Finally, Adell Harriman & Carpenter Inc. purchased a new stake in shares of Horizon Technology Finance in the 3rd quarter valued at $128,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Compass Point raised Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, Horizon Technology Finance has an average rating of “Hold” and an average price target of $9.35.

Horizon Technology Finance Company Profile

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.