ValuEngine cut shares of Horizon Tech Finance (NASDAQ:HRZN) from a hold rating to a sell rating in a research report report published on Tuesday.
HRZN has been the subject of a number of other research reports. Maxim Group reissued a buy rating and issued a $12.00 target price on shares of Horizon Tech Finance in a report on Wednesday, March 7th. National Securities reaffirmed a neutral rating and set a $11.00 price target on shares of Horizon Tech Finance in a research note on Thursday, May 3rd. TheStreet downgraded Horizon Tech Finance from a b- rating to a c rating in a research note on Wednesday, April 11th. Finally, Zacks Investment Research raised Horizon Tech Finance from a hold rating to a buy rating and set a $12.00 price target for the company in a research note on Thursday, March 22nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $11.20.
Get Horizon Tech Finance alerts:
Horizon Tech Finance opened at $10.01 on Tuesday, MarketBeat.com reports. Horizon Tech Finance has a one year low of $9.66 and a one year high of $11.88. The firm has a market capitalization of $115.48 million, a price-to-earnings ratio of 9.36 and a beta of 0.81.
Horizon Tech Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, May 1st. The investment management company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Horizon Tech Finance had a net margin of 32.86% and a return on equity of 8.96%. The business had revenue of $7.18 million during the quarter, compared to analyst estimates of $7.18 million. equities research analysts expect that Horizon Tech Finance will post 1.08 EPS for the current year.
The company also recently declared a monthly dividend, which will be paid on Tuesday, July 17th. Stockholders of record on Tuesday, June 19th will be paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 11.99%. The ex-dividend date is Monday, June 18th. Horizon Tech Finance’s dividend payout ratio (DPR) is presently 112.15%.
In related news, Director Elaine A. Sarsynski acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The stock was purchased at an average price of $10.00 per share, for a total transaction of $30,000.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $50,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Gerald A. Michaud acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 18th. The shares were bought at an average price of $10.08 per share, with a total value of $151,200.00. Following the transaction, the president now owns 70,034 shares in the company, valued at approximately $705,942.72. The disclosure for this purchase can be found here. Insiders have bought a total of 28,000 shares of company stock valued at $287,200 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Kovack Advisors Inc. purchased a new stake in Horizon Tech Finance during the 4th quarter worth about $260,000. Millennium Management LLC increased its position in Horizon Tech Finance by 24.3% during the 4th quarter. Millennium Management LLC now owns 26,744 shares of the investment management company’s stock worth $300,000 after purchasing an additional 5,234 shares in the last quarter. Macquarie Group Ltd. increased its position in Horizon Tech Finance by 572.5% during the 4th quarter. Macquarie Group Ltd. now owns 27,586 shares of the investment management company’s stock worth $310,000 after purchasing an additional 23,484 shares in the last quarter. Shelton Capital Management increased its position in Horizon Tech Finance by 59.1% during the 4th quarter. Shelton Capital Management now owns 35,000 shares of the investment management company’s stock worth $393,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in Horizon Tech Finance by 13.2% during the 4th quarter. Two Sigma Investments LP now owns 47,959 shares of the investment management company’s stock worth $538,000 after purchasing an additional 5,578 shares in the last quarter. Hedge funds and other institutional investors own 14.75% of the company’s stock.
Horizon Tech 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, and cleantech industries.
To view ValuEngine’s full report, visit ValuEngine’s official website.