Brokerages Set Horizon Technology Finance Co. (NASDAQ:HRZN) Target Price at $9.35

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been assigned a consensus rating of “Reduce” from the six research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $9.35.

Separately, Compass Point raised Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price for the company in a research note on Tuesday, December 17th.

Horizon Technology Finance Stock Up 0.4 %

Shares of NASDAQ:HRZN opened at $9.51 on Wednesday. Horizon Technology Finance has a twelve month low of $8.46 and a twelve month high of $13.42. The firm has a market capitalization of $379.22 million, a PE ratio of -79.25 and a beta of 1.22. The company has a 50-day moving average price of $9.19 and a two-hundred day moving average price of $10.05.

Insiders Place Their Bets

In related news, President Gerald A. Michaud purchased 8,000 shares of the stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $9.31 per share, with a total value of $74,480.00. Following the transaction, the president now directly owns 169,309 shares in the company, valued at $1,576,266.79. This trade represents a 4.96 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Balkin purchased 20,000 shares of Horizon Technology Finance stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $8.53 per share, with a total value of $170,600.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $170,600. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Horizon Technology Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in shares of Horizon Technology Finance in the 4th quarter worth approximately $124,000. Aigen Investment Management LP purchased a new stake in shares of Horizon Technology Finance in the fourth quarter worth about $133,000. Crew Capital Management Ltd. purchased a new stake in Horizon Technology Finance during the fourth quarter valued at $99,000. Y Intercept Hong Kong Ltd bought a new stake in Horizon Technology Finance during the fourth quarter worth approximately $148,000. Finally, Strategic Financial Concepts LLC purchased a new position in Horizon Technology Finance during the fourth quarter worth $788,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

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.