Horizon Technology Finance Co. (NASDAQ:HRZN) Plans $0.11 Monthly Dividend

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Friday, February 28th, NASDAQ Dividends reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.11 per share by the investment management company on Tuesday, April 15th. This represents a $1.32 annualized dividend and a dividend yield of 14.35%. The ex-dividend date of this dividend is Monday, March 17th.

Horizon Technology Finance has raised its dividend by an average of 3.2% per year over the last three years. Horizon Technology Finance has a payout ratio of 109.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Horizon Technology Finance to earn $1.26 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 104.8%.

Horizon Technology Finance Price Performance

NASDAQ:HRZN opened at $9.20 on Friday. Horizon Technology Finance has a fifty-two week low of $8.46 and a fifty-two week high of $12.63. The stock has a market capitalization of $370.90 million, a PE ratio of -76.67 and a beta of 1.18. The business’s 50-day simple moving average is $9.41 and its 200-day simple moving average is $9.74.

Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Tuesday, March 4th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The firm had revenue of $23.55 million during the quarter, compared to analyst estimates of $25.69 million. On average, research analysts expect that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael Balkin purchased 20,000 shares of the stock in a transaction on Monday, December 16th. The shares were purchased at an average price of $8.53 per share, with a total value of $170,600.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $170,600. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HRZN shares. Maxim Group dropped their target price on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Compass Point raised Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price on the stock in a research report on Tuesday, December 17th. StockNews.com lowered Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods lowered their price target on Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Friday, March 7th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.75.

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.