Insider Buying: Horizon Technology Finance (NASDAQ:HRZN) Director Purchases $25,980.00 in Stock

by · The Cerbat Gem

Horizon Technology Finance Corporation (NASDAQ:HRZNGet Free Report) Director Jonathan Joseph Goodman acquired 6,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $4.33 per share, with a total value of $25,980.00. Following the completion of the transaction, the director owned 8,312 shares of the company’s stock, valued at approximately $35,990.96. This trade represents a 259.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Horizon Technology Finance Trading Down 4.6%

Horizon Technology Finance stock opened at $4.36 on Friday. The business has a 50-day moving average of $4.31 and a 200-day moving average of $5.43. Horizon Technology Finance Corporation has a 1 year low of $3.80 and a 1 year high of $8.46. The firm has a market capitalization of $297.61 million, a P/E ratio of 10.14 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZNGet Free Report) last issued 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. Horizon Technology Finance had a return on equity of 13.63% and a net margin of 22.55%.The business had revenue of ($6.19) million during the quarter, compared to analyst estimates of $21.09 million. Research analysts anticipate that Horizon Technology Finance Corporation will post 0.69 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HRZN. Sanctuary Advisors LLC bought a new position in shares of Horizon Technology Finance in the first quarter worth $50,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Horizon Technology Finance in the first quarter worth $52,000. Quadrature Capital Ltd bought a new position in shares of Horizon Technology Finance in the fourth quarter worth $365,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Horizon Technology Finance in the fourth quarter worth $187,000. Finally, Regal Investment Advisors LLC bought a new position in shares of Horizon Technology Finance in the fourth quarter worth $316,000. 4.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HRZN has been the topic of a number of analyst reports. Wall Street Zen cut Horizon Technology Finance from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Oppenheimer dropped their price objective on Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 24th. Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods upgraded Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price objective on the stock in a research note on Thursday, March 5th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Horizon Technology Finance in a research note on Friday, May 8th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.65.

Get Our Latest Report on Horizon Technology Finance

Horizon Technology Finance Company Profile

(Get Free Report)

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.

Read More