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

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

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. B. Riley restated a “sell” rating and issued a $9.00 price objective (down previously from $10.00) on shares of Horizon Technology Finance in a research note on Thursday, August 1st.

Institutional Investors Weigh In On Horizon Technology Finance

Hedge funds have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new stake in Horizon Technology Finance during the 4th quarter worth about $52,000. International Assets Investment Management LLC bought a new stake in Horizon Technology Finance during the 2nd quarter worth about $66,000. Global Assets Advisory LLC bought a new stake in Horizon Technology Finance during the 1st quarter worth about $201,000. Paloma Partners Management Co bought a new stake in Horizon Technology Finance during the 1st quarter worth about $209,000. Finally, Virtu Financial LLC bought a new stake in Horizon Technology Finance during the 1st quarter worth about $257,000. Institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Price Performance

NASDAQ:HRZN opened at $10.48 on Tuesday. The stock has a market cap of $367.02 million, a P/E ratio of -24.95 and a beta of 1.23. Horizon Technology Finance has a one year low of $10.35 and a one year high of $13.73. The company has a fifty day moving average price of $10.93 and a 200 day moving average price of $11.47.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, July 30th. The investment management company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. The firm had revenue of $25.68 million during the quarter, compared to analysts’ expectations of $26.74 million. Horizon Technology Finance had a negative net margin of 21.19% and a positive return on equity of 17.39%. During the same period in the prior year, the company earned $0.54 EPS. As a group, equities research analysts anticipate that Horizon Technology Finance will post 1.23 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 17th will be issued a $0.11 dividend. This represents a $1.32 annualized dividend and a dividend yield of 12.60%. The ex-dividend date is Thursday, October 17th. Horizon Technology Finance’s payout ratio is -314.29%.

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.