Balyasny Asset Management L.P. Purchases New Position in Horizon Technology Finance Co. (NASDAQ:HRZN)

Balyasny Asset Management L.P. acquired a new stake in Horizon Technology Finance Co. (NASDAQ:HRZN) in the 4th quarter, Holdings Channel reports. The fund acquired 19,189 shares of the investment management company’s stock, valued at approximately $173,000.

Other hedge funds also recently made changes to their positions in the company. Crew Capital Management Ltd. purchased a new stake in shares of Horizon Technology Finance in the 4th quarter valued at about $99,000. Mutual Advisors LLC purchased a new stake in Horizon Technology Finance in the fourth quarter valued at approximately $106,000. JPMorgan Chase & Co. purchased a new stake in Horizon Technology Finance in the third quarter valued at approximately $117,000. Quantbot Technologies LP boosted its holdings in shares of Horizon Technology Finance by 43.0% in the fourth quarter. Quantbot Technologies LP now owns 13,290 shares of the investment management company’s stock valued at $119,000 after acquiring an additional 3,996 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Horizon Technology Finance during the fourth quarter worth approximately $124,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Stock Down 3.3%

Shares of Horizon Technology Finance stock opened at $7.31 on Monday. The firm has a market cap of $295.00 million, a price-to-earnings ratio of -60.92 and a beta of 1.05. Horizon Technology Finance Co. has a 52-week low of $7.12 and a 52-week high of $12.63. The company’s 50-day simple moving average is $8.44 and its 200-day simple moving average is $9.01.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, April 29th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). The business had revenue of $24.52 million for the quarter, compared to analyst estimates of $26.67 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. Equities research analysts anticipate that Horizon Technology Finance Co. will post 1.38 EPS for the current year.

Horizon Technology Finance Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a yield of 18.06%. The ex-dividend date is Monday, June 16th. Horizon Technology Finance’s dividend payout ratio is presently -145.05%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HRZN. UBS Group reduced their price target on shares of Horizon Technology Finance from $9.00 to $8.25 and set a “neutral” rating for the company in a research report on Thursday, April 17th. StockNews.com cut shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Keefe, Bruyette & Woods dropped their price target on Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating on the stock in a research report on Tuesday, April 8th. Compass Point cut Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $6.50 price objective for the company. in a research report on Wednesday, April 30th. Finally, Maxim Group lowered their target price on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Horizon Technology Finance presently has an average rating of “Hold” and an average price target of $8.45.

Horizon Technology Finance 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, cleantech and sustainability industries.