Thomas Allison Acquires 6,000 Shares of Horizon Technology Finance (NASDAQ:HRZN) Stock

Horizon Technology Finance Corporation (NASDAQ:HRZN) Director Thomas Allison bought 6,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $4.36 per share, for a total transaction of $26,160.00. Following the purchase, the director owned 55,926 shares in the company, valued at $243,837.36. This represents a 12.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Horizon Technology Finance Trading Up 2.8%

Shares of HRZN traded up $0.12 during trading hours on Wednesday, reaching $4.43. 667,360 shares of the stock traded hands, compared to its average volume of 1,015,078. Horizon Technology Finance Corporation has a 52-week low of $3.80 and a 52-week high of $8.46. The company’s 50-day moving average price is $4.30 and its two-hundred day moving average price is $5.46. The company has a market cap of $302.39 million, a P/E ratio of 10.30 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, May 5th. The investment management company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. The company had revenue of ($6.19) million for the quarter, compared to analysts’ expectations of $21.09 million. On average, research analysts forecast that Horizon Technology Finance Corporation will post 0.69 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, September 15th. Investors 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 payout ratio is 167.44%.

Institutional Trading of Horizon Technology Finance

A number of large investors have recently made changes to their positions in HRZN. N.E.W. Advisory Services LLC increased its holdings in shares of Horizon Technology Finance by 100.0% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the investment management company’s stock worth $26,000 after buying an additional 2,000 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Horizon Technology Finance in the 1st quarter worth about $50,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Horizon Technology Finance in the 1st quarter worth about $52,000. Tower Research Capital LLC TRC bought a new stake in shares of Horizon Technology Finance in the 2nd quarter worth about $60,000. Finally, Nations Financial Group Inc. IA ADV bought a new stake in shares of Horizon Technology Finance in the 4th quarter worth about $67,000. 4.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HRZN has been the topic of a number of research reports. Oppenheimer reduced their price target on shares of Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Tuesday, March 24th. Zacks Research upgraded shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. UBS Group reduced their price target on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating on the stock in a report on Monday, May 18th. Keefe, Bruyette & Woods upgraded shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price target on the stock in a report on Thursday, March 5th. Finally, B. Riley Financial reduced their price target on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a report on Friday, March 6th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.