Horizon Technology Finance (NASDAQ:HRZN) Upgraded at Compass Point

Horizon Technology Finance (NASDAQ:HRZN) was upgraded by Compass Point to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also issued reports on HRZN. UBS Group lowered their price target on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a report on Monday, May 18th. Zacks Research raised Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. Weiss Ratings cut Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 19th. Keefe, Bruyette & Woods dropped their price target on Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating on the stock in a research report on Friday, August 21st. Finally, Oppenheimer cut their price target on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Horizon Technology Finance presently has a consensus rating of “Hold” and a consensus target price of $4.95.

Horizon Technology Finance Price Performance

Shares of HRZN opened at $4.82 on Thursday. The firm has a market capitalization of $323.10 million, a price-to-earnings ratio of 13.39 and a beta of 0.98. Horizon Technology Finance has a 1-year low of $3.80 and a 1-year high of $7.07. The company has a 50-day moving average of $4.63 and a 200 day moving average of $4.66.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, August 4th. The investment management company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The company had revenue of ($44.66) million during the quarter, compared to the consensus estimate of $25.22 million. Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%. On average, equities analysts anticipate that Horizon Technology Finance will post 0.63 earnings per share for the current fiscal year.

Insider Activity at Horizon Technology Finance

In related news, Director Thomas J. Allison bought 6,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $4.36 per share, for a total transaction of $26,160.00. Following the completion of the acquisition, the director directly owned 55,926 shares in the company, valued at approximately $243,837.36. This represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Joseph Goodman purchased 6,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $4.33 per share, for a total transaction of $25,980.00. Following the completion of the acquisition, the director directly owned 8,312 shares in the company, valued at approximately $35,990.96. This trade represents a 259.52% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 134,977 shares of company stock valued at $585,975 over the last quarter. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Horizon Technology Finance

Hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new position in Horizon Technology Finance in the first quarter valued at about $50,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Horizon Technology Finance in the 1st quarter valued at about $52,000. Ausdal Financial Partners Inc. bought a new stake in shares of Horizon Technology Finance in the 2nd quarter valued at about $54,000. Chapin Davis Inc. purchased a new position in shares of Horizon Technology Finance in the 2nd quarter worth approximately $60,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of Horizon Technology Finance during the 2nd quarter worth approximately $60,000. 4.94% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first?lien and second?lien loans, as well as equity co?investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.?based enterprises with proven technology, strong management teams and clear paths to growth.