Shares of Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $10.88.
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A number of brokerages recently issued reports on HRZN. StockNews.com began coverage on Horizon Technology Finance in a research note on Wednesday, October 12th. They set a “sell” rating for the company. Keefe, Bruyette & Woods lowered Horizon Technology Finance from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $11.50 to $10.50 in a research note on Tuesday, December 20th.
Insider Buying and Selling at Horizon Technology Finance
In other news, President Gerald A. Michaud bought 4,000 shares of the firm’s stock in a transaction on Tuesday, December 6th. The stock was acquired at an average cost of $12.90 per share, with a total value of $51,600.00. Following the transaction, the president now directly owns 126,335 shares in the company, valued at approximately $1,629,721.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Gerald A. Michaud purchased 18,250 shares of the business’s stock in a transaction dated Tuesday, December 20th. The shares were acquired at an average cost of $11.03 per share, for a total transaction of $201,297.50. Following the acquisition, the president now owns 144,585 shares of the company’s stock, valued at approximately $1,594,772.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Gerald A. Michaud purchased 4,000 shares of the business’s stock in a transaction dated Tuesday, December 6th. The stock was bought at an average price of $12.90 per share, for a total transaction of $51,600.00. Following the completion of the acquisition, the president now directly owns 126,335 shares in the company, valued at approximately $1,629,721.50. The disclosure for this purchase can be found here. Insiders bought a total of 27,008 shares of company stock valued at $314,902 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new position in shares of Horizon Technology Finance in the 1st quarter valued at $28,000. JPMorgan Chase & Co. increased its holdings in shares of Horizon Technology Finance by 86.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,969 shares of the investment management company’s stock valued at $46,000 after acquiring an additional 1,841 shares during the period. BNP Paribas Arbitrage SNC purchased a new position in shares of Horizon Technology Finance in the 3rd quarter valued at $52,000. BNP Paribas Arbitrage SA increased its holdings in shares of Horizon Technology Finance by 508.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,472 shares of the investment management company’s stock valued at $76,000 after acquiring an additional 4,572 shares during the period. Finally, BDO Wealth Advisors LLC grew its stake in Horizon Technology Finance by 146.4% during the 2nd quarter. BDO Wealth Advisors LLC now owns 5,890 shares of the investment management company’s stock worth $68,000 after buying an additional 3,500 shares during the last quarter. 9.82% of the stock is currently owned by hedge funds and other institutional investors.
Horizon Technology Finance Stock Performance
Shares of HRZN stock opened at $12.58 on Wednesday. Horizon Technology Finance has a 52-week low of $9.67 and a 52-week high of $16.39. The firm has a market capitalization of $332.11 million, a P/E ratio of 15.53 and a beta of 1.18. The stock has a 50 day moving average price of $12.20 and a 200 day moving average price of $12.15.
About Horizon Technology Finance
Horizon Technology Finance Corp. operates as a specialty finance company, which engages in the provision of capital in the form of secured loans to venture capital backed companies. It is also involved in lending and investing in portfolio companies in technology, life science, healthcare information and services and cleantech industries.
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