Horizon Technology Finance (NASDAQ:HRZN) Issues Quarterly Earnings Results

Horizon Technology Finance (NASDAQ:HRZN) posted its earnings results on Tuesday. The investment management company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.70), FiscalAI reports. Horizon Technology Finance had a return on equity of 13.63% and a net margin of 22.55%.The firm had revenue of ($44.66) million for the quarter, compared to analyst estimates of $25.22 million.

Horizon Technology Finance Stock Performance

Shares of NASDAQ HRZN traded up $0.04 during mid-day trading on Tuesday, reaching $4.55. The company had a trading volume of 431,259 shares, compared to its average volume of 580,978. Horizon Technology Finance has a one year low of $3.80 and a one year high of $7.76. The business’s 50-day simple moving average is $4.47 and its 200 day simple moving average is $4.90. The firm has a market cap of $310.79 million, a price-to-earnings ratio of 10.59 and a beta of 0.98.

Insider Activity

In other news, Director Thomas J. Allison bought 6,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $4.36 per share, with a total value of $26,160.00. Following the acquisition, the director directly owned 55,926 shares in the company, valued at $243,837.36. This represents a 12.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Joseph Goodman bought 6,000 shares of the company’s stock in a transaction dated 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 directly owned 8,312 shares in the company, valued at approximately $35,990.96. This represents a 259.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 134,977 shares of company stock valued at $585,975. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HRZN. Tower Research Capital LLC TRC acquired a new stake in shares of Horizon Technology Finance in the 2nd quarter valued at $60,000. HRT Financial LP acquired a new position in shares of Horizon Technology Finance during the 4th quarter worth $77,000. Marshall Wace LLP acquired a new position in shares of Horizon Technology Finance during the 2nd quarter worth $103,000. Virtu Financial LLC bought a new stake in shares of Horizon Technology Finance during the 3rd quarter worth $119,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Horizon Technology Finance during the 2nd quarter worth $122,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HRZN. Zacks Research upgraded shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. UBS Group dropped their price objective on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a research note on Monday, May 18th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Friday, May 8th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.65.

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.