👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Horizon technology finance director Balkin buys $170,600 in stock

Published 17/12/2024, 19:26
Horizon technology finance director Balkin buys $170,600 in stock
HRZN
-

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.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.