Horizon Technology Finance Corp (NASDAQ:HRZN) President Buys $42,000.00 in Stock

Horizon Technology Finance Corp (NASDAQ:HRZN) President Gerald A. Michaud purchased 3,500 shares of Horizon Technology Finance stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $12.00 per share, with a total value of $42,000.00. Following the transaction, the president now owns 77,128 shares in the company, valued at $925,536. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

HRZN stock traded up $0.01 during mid-day trading on Friday, reaching $11.99. The company’s stock had a trading volume of 1,756 shares, compared to its average volume of 67,982. The stock has a market cap of $161.80 million, a PE ratio of 9.46 and a beta of 0.68. Horizon Technology Finance Corp has a fifty-two week low of $10.05 and a fifty-two week high of $13.48. The company’s 50 day moving average is $12.05 and its two-hundred day moving average is $12.08.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.07. The company had revenue of $10.47 million during the quarter. Horizon Technology Finance had a net margin of 42.51% and a return on equity of 11.02%.

Several research firms recently weighed in on HRZN. Maxim Group restated a “buy” rating and set a $13.00 price target on shares of Horizon Technology Finance in a research report on Tuesday, August 6th. ValuEngine downgraded shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, National Securities restated a “neutral” rating and set a $11.00 price target on shares of Horizon Technology Finance in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $11.75.

A number of hedge funds have recently added to or reduced their stakes in HRZN. Virtus ETF Advisers LLC acquired a new stake in Horizon Technology Finance in the 2nd quarter valued at about $1,906,000. Marshall Wace LLP acquired a new stake in Horizon Technology Finance in the 1st quarter valued at about $961,000. CWM LLC acquired a new stake in Horizon Technology Finance in the 2nd quarter valued at about $104,000. Marshall Wace North America L.P. acquired a new stake in Horizon Technology Finance in the 1st quarter valued at about $62,000. Finally, FNY Investment Advisers LLC acquired a new stake in Horizon Technology Finance in the 1st quarter valued at about $57,000. Institutional investors own 10.13% 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, and cleantech industries.

See Also: What are different types of coverage ratios?

Receive News & Ratings for Horizon Technology Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Technology Finance and related companies with MarketBeat.com's FREE daily email newsletter.