Horizon Technology Finance Co. (NASDAQ:HRZN) Given Average Recommendation of “Reduce” by Analysts

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been given an average rating of “Reduce” by the six research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $9.70.

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. B. Riley reiterated a “sell” rating and issued a $9.00 price objective (down from $10.00) on shares of Horizon Technology Finance in a report on Thursday, August 1st.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HRZN. ETF Store Inc. grew its position in shares of Horizon Technology Finance by 4.4% in the second quarter. ETF Store Inc. now owns 50,942 shares of the investment management company’s stock valued at $613,000 after purchasing an additional 2,136 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Horizon Technology Finance by 4.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 23,776 shares of the investment management company’s stock worth $286,000 after acquiring an additional 1,113 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Horizon Technology Finance during the 2nd quarter valued at about $66,000. First Financial Bank Trust Division purchased a new stake in shares of Horizon Technology Finance in the second quarter valued at about $520,000. Finally, Virtu Financial LLC acquired a new stake in Horizon Technology Finance during the first quarter worth about $257,000. 4.94% of the stock is owned by hedge funds and other institutional investors.

Horizon Technology Finance Stock Up 0.8 %

Shares of HRZN opened at $10.66 on Friday. The stock’s 50-day moving average price is $11.31 and its 200-day moving average price is $11.56. The company has a market capitalization of $373.32 million, a price-to-earnings ratio of -25.38 and a beta of 1.23. Horizon Technology Finance has a 52 week low of $10.48 and a 52 week high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.36 earnings per share for the quarter, topping 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 business had revenue of $25.68 million during the quarter, compared to the consensus estimate of $26.74 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. As a group, equities analysts anticipate that Horizon Technology Finance will post 1.23 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 17th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $1.32 dividend on an annualized basis and a yield of 12.38%. Horizon Technology Finance’s payout ratio 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.