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

Horizon Technology Finance Co. (NASDAQ:HRZN) has earned a consensus rating of “Reduce” from the six research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $9.70.

Several brokerages recently issued reports on HRZN. B. Riley reissued a “sell” rating and issued a $9.00 price target (down previously from $10.00) on shares of Horizon Technology Finance in a report on Thursday, August 1st. Keefe, Bruyette & Woods reduced their price target on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a report on Thursday, August 1st.

Horizon Technology Finance Stock Performance

Horizon Technology Finance stock opened at $10.78 on Friday. Horizon Technology Finance has a 1 year low of $10.51 and a 1 year high of $13.73. The firm’s 50-day moving average is $11.45 and its 200-day moving average is $11.59. The company has a market cap of $377.53 million, a P/E ratio of -25.67 and a beta of 1.23.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $25.68 million for 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 quarter last year, the company posted $0.54 earnings per share. As a group, sell-side analysts predict that Horizon Technology Finance will post 1.23 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 12.24%. The ex-dividend date of this dividend is Thursday, October 17th. Horizon Technology Finance’s payout ratio is currently -314.29%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HRZN. Creekmur Asset Management LLC bought a new position in Horizon Technology Finance in the 4th quarter valued at about $52,000. Cape Investment Advisory Inc. bought a new position in shares of Horizon Technology Finance in the fourth quarter valued at approximately $56,000. International Assets Investment Management LLC acquired a new position in shares of Horizon Technology Finance during the second quarter valued at approximately $66,000. Capstone Investment Advisors LLC bought a new stake in Horizon Technology Finance during the fourth quarter worth approximately $132,000. Finally, Global Assets Advisory LLC acquired a new stake in Horizon Technology Finance in the first quarter worth approximately $201,000. 4.94% of the stock is owned by institutional investors and hedge funds.

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.