Compass Point Upgrades Horizon Technology Finance (NASDAQ:HRZN) to Neutral

Horizon Technology Finance (NASDAQ:HRZN) was upgraded by stock analysts at Compass Point from a “sell” rating to a “neutral” rating in a report issued on Tuesday, MarketBeat reports. The firm currently has a $8.25 target price on the investment management company’s stock. Compass Point’s price objective indicates a potential downside of 6.14% from the stock’s current price.

Horizon Technology Finance Stock Performance

HRZN stock 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. The stock has a 50-day moving average price of $9.57 and a two-hundred day moving average price of $10.81. Horizon Technology Finance has a 1 year low of $8.46 and a 1 year high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last announced its 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). The firm had revenue of $24.56 million during the quarter, compared to analyst estimates of $25.38 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. During the same period in the prior year, the business posted $0.53 EPS. On average, analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Insider Activity at Horizon Technology Finance

In other Horizon Technology Finance news, Director Michael Balkin purchased 20,000 shares of the stock in a transaction 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 transaction, the director now directly owns 20,000 shares in the company, valued at $170,600. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Gerald A. Michaud acquired 8,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $9.31 per share, with a total value of $74,480.00. Following the completion of the transaction, the president now owns 169,309 shares of the company’s stock, valued at approximately $1,576,266.79. The trade was a 4.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HRZN. Dynamic Technology Lab Private Ltd acquired a new position in shares of Horizon Technology Finance in the third quarter valued at $217,000. International Assets Investment Management LLC acquired a new stake in Horizon Technology Finance during the second quarter worth approximately $66,000. Private Trust Co. NA acquired a new stake in Horizon Technology Finance during the third quarter worth approximately $38,000. Commonwealth Equity Services LLC grew its position in shares of Horizon Technology Finance by 4.9% in the second quarter. Commonwealth Equity Services LLC now owns 23,776 shares of the investment management company’s stock valued at $286,000 after purchasing an additional 1,113 shares during the last quarter. Finally, ETF Store Inc. grew its position in shares of Horizon Technology Finance by 4.4% in the second quarter. ETF Store Inc. now owns 50,942 shares of the investment management company’s stock valued at $613,000 after purchasing an additional 2,136 shares during the last quarter. 4.94% of the stock is owned by institutional investors and hedge funds.

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.