Horizon Technology Finance (NASDAQ:HRZN) Upgraded to “Neutral” at Compass Point

Compass Point upgraded shares of Horizon Technology Finance (NASDAQ:HRZN) from a sell rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. Compass Point currently has $8.25 price objective on the investment management company’s stock.

Horizon Technology Finance Trading Up 2.6 %

NASDAQ HRZN opened at $8.79 on Tuesday. The stock has a market cap of $334.56 million, a PE ratio of -73.25 and a beta of 1.22. Horizon Technology Finance has a 12 month low of $8.46 and a 12 month high of $13.73. The company’s 50-day moving average price is $9.61 and its 200-day moving average price is $10.83.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, October 29th. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $25.38 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. During the same period last year, the business posted $0.53 earnings per share. As a group, sell-side analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be given a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 15.02%. The ex-dividend date is Thursday, January 16th. Horizon Technology Finance’s payout ratio is -1,100.00%.

Insider Activity at Horizon Technology Finance

In other Horizon Technology Finance news, Director Michael Balkin acquired 20,000 shares of Horizon Technology Finance stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average price of $8.53 per share, with a total value of $170,600.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $170,600. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Gerald A. Michaud bought 8,000 shares of the company’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 in the company, valued at approximately $1,576,266.79. This represents a 4.96 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Horizon Technology Finance

A number of large investors have recently added to or reduced their stakes in HRZN. Farther Finance Advisors LLC purchased a new position in shares of Horizon Technology Finance in the 3rd quarter worth approximately $25,000. Private Trust Co. NA acquired a new stake in Horizon Technology Finance in the third quarter valued at approximately $38,000. International Assets Investment Management LLC purchased a new position in Horizon Technology Finance in the second quarter worth $66,000. Quantbot Technologies LP acquired a new position in shares of Horizon Technology Finance during the third quarter worth $99,000. Finally, Adell Harriman & Carpenter Inc. purchased a new stake in shares of Horizon Technology Finance during the 3rd quarter valued at $128,000. 4.94% of the stock is currently owned by institutional investors.

About Horizon Technology Finance

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.