ETF Store Inc. Increases Position in Horizon Technology Finance Co. (NASDAQ:HRZN)

ETF Store Inc. boosted its holdings in shares of Horizon Technology Finance Co. (NASDAQ:HRZN) by 4.4% during the second quarter, HoldingsChannel.com reports. The firm owned 50,942 shares of the investment management company’s stock after purchasing an additional 2,136 shares during the period. Horizon Technology Finance makes up approximately 0.6% of ETF Store Inc.’s holdings, making the stock its 28th largest holding. ETF Store Inc.’s holdings in Horizon Technology Finance were worth $613,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Green Alpha Advisors LLC raised its stake in shares of Horizon Technology Finance by 15.1% during the 1st quarter. Green Alpha Advisors LLC now owns 228,943 shares of the investment management company’s stock worth $2,603,000 after buying an additional 29,956 shares during the period. Connecticut Wealth Management LLC purchased a new stake in Horizon Technology Finance in the 1st quarter worth $2,393,000. International Assets Investment Management LLC acquired a new position in Horizon Technology Finance during the fourth quarter worth $954,000. First Financial Bank Trust Division acquired a new stake in shares of Horizon Technology Finance in the second quarter valued at about $520,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Horizon Technology Finance by 17.5% during the first 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 in the last quarter. 4.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on HRZN shares. Keefe, Bruyette & Woods lowered their price target on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a research note on Thursday, August 1st. B. Riley restated a “sell” rating and issued a $9.00 target price (down previously from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $9.70.

Horizon Technology Finance Price Performance

NASDAQ HRZN opened at $11.15 on Friday. The company has a market cap of $390.48 million, a P/E ratio of -26.36 and a beta of 1.24. The stock has a 50-day moving average of $11.66 and a two-hundred day moving average of $11.71. Horizon Technology Finance Co. has a 1-year low of $10.51 and a 1-year high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Horizon Technology Finance had a negative net margin of 21.19% and a positive return on equity of 17.39%. The firm had revenue of $25.68 million during the quarter, compared to analysts’ expectations of $26.74 million. During the same quarter in the previous year, the business posted $0.54 earnings per share. On average, analysts anticipate that Horizon Technology Finance Co. will post 1.23 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 16th will be given a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.84%. The ex-dividend date is Monday, September 16th. Horizon Technology Finance’s dividend payout ratio is currently -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.