Michael Balkin, a director at Horizon Technology (NASDAQ:HRZN) Finance Corp (NASDAQ:HRZN), recently acquired 20,000 shares of the company's common stock, as the stock trades near its 52-week low of $8.50 and has declined over 25% in the past year. The shares were purchased on December 16 at an average price of $8.53 per share, totaling approximately $170,600. Following this transaction, Balkin holds 20,000 shares indirectly through a trust and an additional 10,000 shares directly. The company currently offers a significant 17.27% dividend yield to shareholders. The acquisition was reported in a filing with the Securities and Exchange Commission. InvestingPro data reveals 8 additional key insights about HRZN's financial health and market position.
In other recent news, Horizon Technology Finance Corporation has recently undergone a few significant developments. Compass Point, an investment firm, upgraded Horizon Technology Finance shares from Sell to Neutral, setting a price target of $8.25. The firm's decision was influenced by a potential positive return in the next 12 months, despite a consistent decline in the company's net asset value (NAV) and significant investment losses.
In the third quarter of 2024, Horizon Technology Finance reported a net investment income (NII) of $0.32 per share, slightly below its declared distribution level. The company announced monthly distributions of $0.11 per share through March 2025 and reported a 6% growth in its portfolio to $684 million. The debt portfolio yield stood at 15.9%, one of the highest in the Business Development Company industry.
Despite a lower net investment income compared to the same quarter last year and a decline in NAV per share, Horizon Technology Finance remains optimistic about its future growth and the venture debt market, particularly in the technology and life sciences sectors. The company's forward-looking analysis points to a slight increase in NAV, supporting the new price target and rating change from Compass Point. These are recent developments, providing investors with an updated look at Horizon Technology Finance's performance and prospects.
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