Horizon Technology Finance Co. (NASDAQ:HRZN) Receives Consensus Rating of “Reduce” from Analysts

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have received a consensus rating of “Reduce” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.70.

HRZN has been the topic of several research analyst reports. B. Riley restated a “sell” rating and issued a $9.00 price target (down from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st. Keefe, Bruyette & Woods decreased their target price on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st.

Institutional Investors Weigh In On Horizon Technology Finance

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in Horizon Technology Finance by 4.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 23,776 shares of the investment management company’s stock valued at $286,000 after acquiring an additional 1,113 shares in the last quarter. ETF Store Inc. grew its stake in shares of Horizon Technology Finance by 2.4% during the first quarter. ETF Store Inc. now owns 48,806 shares of the investment management company’s stock valued at $555,000 after purchasing an additional 1,158 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in shares of Horizon Technology Finance during the fourth quarter valued at approximately $52,000. Cape Investment Advisory Inc. acquired a new stake in shares of Horizon Technology Finance in the fourth quarter valued at approximately $56,000. Finally, CANADA LIFE ASSURANCE Co raised its position in Horizon Technology Finance by 17.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 32,204 shares of the investment management company’s stock worth $367,000 after purchasing an additional 4,795 shares during the last quarter. Institutional investors and hedge funds own 4.94% of the company’s stock.

Horizon Technology Finance Price Performance

HRZN stock opened at $11.07 on Monday. The stock has a market capitalization of $387.68 million, a price-to-earnings ratio of -26.36 and a beta of 1.24. The company has a 50-day moving average of $11.79 and a two-hundred day moving average of $11.83. Horizon Technology Finance has a 52-week low of $10.51 and a 52-week high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. Horizon Technology Finance had a positive return on equity of 17.39% and a negative net margin of 21.19%. The company had revenue of $25.68 million for the quarter, compared to the consensus estimate of $26.74 million. During the same period in the previous year, the business posted $0.54 EPS. Equities analysts expect that Horizon Technology Finance will post 1.47 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 16th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, September 16th. This represents a $1.32 annualized dividend and a dividend yield of 11.92%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -314.29%.

Horizon Technology Finance Company 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.