Horizon Technology Finance (NASDAQ:HRZN) Director Acquires $25,980.00 in Stock

Horizon Technology Finance Corporation (NASDAQ:HRZN) Director Jonathan Joseph Goodman purchased 6,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost 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 of the company’s stock, valued at $35,990.96. This represents a 259.52% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Horizon Technology Finance Trading Up 2.8%

HRZN traded up $0.12 during midday trading on Wednesday, hitting $4.43. 667,360 shares of the company traded hands, compared to its average volume of 1,015,078. The company has a market capitalization of $302.39 million, a price-to-earnings ratio of 10.30 and a beta of 1.00. Horizon Technology Finance Corporation has a 52-week low of $3.80 and a 52-week high of $8.46. The business has a 50 day simple moving average of $4.30 and a two-hundred day simple moving average of $5.46.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, May 5th. The investment management company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The business had revenue of ($6.19) million for the quarter, compared to the consensus estimate of $21.09 million. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. Equities research analysts anticipate that Horizon Technology Finance Corporation will post 0.69 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, August 17th. Horizon Technology Finance’s dividend payout ratio (DPR) is presently 167.44%.

Institutional Investors Weigh In On Horizon Technology Finance

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Eagle Point Credit Management LLC acquired a new stake in shares of Horizon Technology Finance during the fourth quarter valued at about $2,385,000. Millennium Management LLC acquired a new stake in shares of Horizon Technology Finance during the third quarter valued at about $1,099,000. Magnetar Financial LLC acquired a new stake in shares of Horizon Technology Finance during the third quarter valued at about $435,000. Aquatic Capital Management LLC acquired a new stake in shares of Horizon Technology Finance during the third quarter valued at about $395,000. Finally, Green Alpha Advisors LLC increased its position in shares of Horizon Technology Finance by 11.8% during the fourth quarter. Green Alpha Advisors LLC now owns 558,944 shares of the investment management company’s stock valued at $3,605,000 after acquiring an additional 58,915 shares during the last quarter. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HRZN has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Friday, May 8th. B. Riley Financial reduced their target price on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a research report on Friday, March 6th. Keefe, Bruyette & Woods upgraded shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 target price for the company in a research report on Thursday, March 5th. Zacks Research upgraded shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, UBS Group reduced their target price on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Horizon Technology Finance has a consensus rating of “Hold” and an average target price of $5.65.

About Horizon Technology Finance

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.