Insider Buying: Horizon Technology Finance Co. (NASDAQ:HRZN) Director Buys $170,600.00 in Stock

Horizon Technology Finance Co. (NASDAQ:HRZN) Director Michael Balkin acquired 20,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was 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. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Horizon Technology Finance Stock Performance

Shares of NASDAQ HRZN opened at $8.83 on Friday. The firm has a fifty day moving average of $9.54 and a 200 day moving average of $10.80. The firm has a market cap 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.

Horizon Technology Finance (NASDAQ:HRZN) last released 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 company had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $25.38 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. During the same period in the prior year, the firm earned $0.53 EPS. On average, equities analysts predict that Horizon Technology Finance Co. will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Compass Point upgraded Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, Horizon Technology Finance has a consensus rating of “Hold” and an average target price of $9.35.

Hedge Funds Weigh In On Horizon Technology Finance

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC acquired a new position in Horizon Technology Finance in the 3rd quarter valued at $25,000. Private Trust Co. NA acquired a new stake in Horizon Technology Finance during the 3rd quarter worth $38,000. International Assets Investment Management LLC purchased a new stake 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 about $99,000. Finally, Adell Harriman & Carpenter Inc. purchased a new position in shares of Horizon Technology Finance in the third quarter worth about $128,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

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.