Michael Balkin Buys 20,000 Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) Stock

Horizon Technology Finance Co. (NASDAQ:HRZNGet Free Report) Director Michael Balkin acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average price of $8.53 per share, with a total value of $170,600.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $170,600. This represents a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Horizon Technology Finance Stock Performance

Shares of Horizon Technology Finance stock traded up $0.22 on Tuesday, reaching $8.79. The stock had a trading volume of 1,018,777 shares, compared to its average volume of 316,610. The business’s 50-day moving average price is $9.65 and its two-hundred day moving average price is $10.84. The stock has a market cap of $334.56 million, a P/E ratio of -71.92 and a beta of 1.22. Horizon Technology Finance Co. has a fifty-two week low of $8.46 and a fifty-two week high of $13.73.

Horizon Technology Finance (NASDAQ:HRZNGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The firm had revenue of $24.56 million for the quarter, compared to the consensus estimate of $25.38 million. During the same quarter last year, the company earned $0.53 earnings per share. As a group, equities analysts forecast that Horizon Technology Finance Co. will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 15.02%. The ex-dividend date of this dividend is Monday, December 16th. Horizon Technology Finance’s payout ratio is currently -1,100.00%.

Analysts Set New Price Targets

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

Read Our Latest Report on HRZN

Institutional Investors Weigh In On Horizon Technology Finance

Several hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC bought a new position in shares of Horizon Technology Finance during the 3rd quarter worth about $25,000. Private Trust Co. NA bought a new position in Horizon Technology Finance during the third quarter worth about $38,000. International Assets Investment Management LLC acquired a new stake in Horizon Technology Finance during the second quarter valued at approximately $66,000. Quantbot Technologies LP acquired a new position in shares of Horizon Technology Finance in the 3rd quarter worth approximately $99,000. Finally, Adell Harriman & Carpenter Inc. acquired a new position in shares of Horizon Technology Finance in the 3rd quarter worth approximately $128,000. Institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Company Profile

(Get Free Report)

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.

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