Horizon Technology Finance Co. (NASDAQ:HRZN) Receives Average Recommendation of “Reduce” from Brokerages

Horizon Technology Finance Co. (NASDAQ:HRZN) has been assigned a consensus recommendation of “Reduce” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $9.35.

Separately, Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price objective for the company in a research report on Tuesday, December 17th.

Horizon Technology Finance Stock Up 0.4 %

Shares of HRZN opened at $9.51 on Wednesday. The stock has a market cap of $379.22 million, a PE ratio of -79.25 and a beta of 1.22. The firm’s fifty day moving average is $9.19 and its two-hundred day moving average is $10.05. Horizon Technology Finance has a 52-week low of $8.46 and a 52-week high of $13.42.

Insider Activity

In related news, President Gerald A. Michaud purchased 8,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $9.31 per share, for a total transaction of $74,480.00. Following the transaction, the president now directly owns 169,309 shares of the company’s stock, valued at approximately $1,576,266.79. This trade represents a 4.96 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael Balkin acquired 20,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of $8.53 per share, with a total value of $170,600.00. Following the purchase, the director now owns 20,000 shares in the company, valued at approximately $170,600. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 1.34% of the company’s stock.

Institutional Trading of Horizon Technology Finance

Several institutional investors have recently bought and sold shares of the stock. Green Alpha Advisors LLC raised its holdings in shares of Horizon Technology Finance by 28.1% in the fourth quarter. Green Alpha Advisors LLC now owns 290,447 shares of the investment management company’s stock valued at $2,611,000 after buying an additional 63,709 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Horizon Technology Finance in the 3rd quarter valued at about $217,000. JPMorgan Chase & Co. bought a new position in Horizon Technology Finance during the third quarter worth about $117,000. International Assets Investment Management LLC grew its holdings in shares of Horizon Technology Finance by 810.1% during the 3rd quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock valued at $5,330,000 after purchasing an additional 44,555 shares during the last quarter. Finally, Private Trust Co. NA bought a new position in shares of Horizon Technology Finance during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Horizon Technology Finance Company Profile

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.