Horizon Tech Finance (HRZN) Downgraded to Sell at ValuEngine


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.


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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.

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Analyst Recommendations for Horizon Tech Finance (NASDAQ:HRZN)

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