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

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been assigned a consensus recommendation of “Reduce” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $9.70.

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased 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 research note on Thursday, August 1st. B. Riley reaffirmed a “sell” rating and issued a $9.00 target price (down from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st.

Horizon Technology Finance Stock Performance

Shares of HRZN stock opened at $11.05 on Monday. Horizon Technology Finance has a fifty-two week low of $10.51 and a fifty-two week high of $13.73. The stock has a 50 day simple moving average of $11.72 and a two-hundred day simple moving average of $11.77. The company has a market cap of $386.98 million, a P/E ratio of -26.31 and a beta of 1.24.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.36 EPS for the quarter, topping the consensus estimate 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 company had revenue of $25.68 million during the quarter, compared to the consensus estimate of $26.74 million. During the same quarter last year, the firm posted $0.54 EPS. On average, research analysts predict that Horizon Technology Finance will post 1.47 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Monday, September 16th will be paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.95%. The ex-dividend date is Monday, September 16th. Horizon Technology Finance’s dividend payout ratio (DPR) is -314.29%.

Hedge Funds 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 shares of Horizon Technology Finance in the 4th quarter worth $52,000. Cape Investment Advisory Inc. purchased a new stake in Horizon Technology Finance in the 4th quarter valued at about $56,000. International Assets Investment Management LLC purchased a new stake in Horizon Technology Finance in the 2nd quarter valued at about $66,000. Capstone Investment Advisors LLC bought a new position in shares of Horizon Technology Finance during the 4th quarter worth approximately $132,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in shares of Horizon Technology Finance in the 4th quarter worth approximately $134,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

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.