Horizon Technology Finance (NASDAQ:HRZN) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Horizon Technology Finance (NASDAQ:HRZN) from a hold rating to a sell rating in a research report sent to investors on Thursday.

Separately, Compass Point raised shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price on the stock in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.35.

Horizon Technology Finance Price Performance

Horizon Technology Finance stock opened at $9.82 on Thursday. The firm has a market cap of $391.62 million, a P/E ratio of -81.83 and a beta of 1.22. Horizon Technology Finance has a twelve month low of $8.46 and a twelve month high of $13.29. The business has a fifty day moving average of $9.27 and a two-hundred day moving average of $9.93.

Insiders Place Their Bets

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

Institutional Trading of Horizon Technology Finance

Several institutional investors have recently made changes to their positions in HRZN. International Assets Investment Management LLC raised its position in shares of Horizon Technology Finance by 810.1% during the 3rd quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock valued at $5,330,000 after buying an additional 44,555 shares during the period. Adell Harriman & Carpenter Inc. purchased a new stake in shares of Horizon Technology Finance during the 3rd quarter valued at approximately $128,000. Farther Finance Advisors LLC purchased a new stake in shares of Horizon Technology Finance during the 3rd quarter valued at approximately $25,000. ETF Store Inc. increased its holdings in Horizon Technology Finance by 3.7% in the 3rd quarter. ETF Store Inc. now owns 52,813 shares of the investment management company’s stock valued at $562,000 after purchasing an additional 1,871 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Horizon Technology Finance in the 3rd quarter valued at approximately $217,000. 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.