Analysts Set Horizon Technology Finance Co. (NASDAQ:HRZN) PT at $9.70

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

A number of equities research analysts recently weighed in on HRZN shares. B. Riley restated a “sell” rating and set a $9.00 price objective (down from $10.00) on shares of Horizon Technology Finance in a research note on Thursday, August 1st. 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 report on Thursday, August 1st.

Institutional Investors Weigh In On Horizon Technology Finance

Several large investors have recently bought and sold shares of the company. Green Alpha Advisors LLC raised its holdings in Horizon Technology Finance by 15.1% in the 1st quarter. Green Alpha Advisors LLC now owns 228,943 shares of the investment management company’s stock valued at $2,603,000 after buying an additional 29,956 shares during the period. Connecticut Wealth Management LLC acquired a new stake in shares of Horizon Technology Finance during the first quarter valued at about $2,393,000. International Assets Investment Management LLC purchased a new stake in shares of Horizon Technology Finance in the 4th quarter valued at approximately $954,000. ETF Store Inc. lifted its holdings in shares of Horizon Technology Finance by 4.4% in the 2nd quarter. ETF Store Inc. now owns 50,942 shares of the investment management company’s stock worth $613,000 after acquiring an additional 2,136 shares during the last quarter. Finally, First Financial Bank Trust Division purchased a new position in shares of Horizon Technology Finance during the 2nd quarter worth approximately $520,000. 4.94% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Technology Finance Trading Up 0.4 %

NASDAQ HRZN opened at $11.05 on Monday. The stock has a market cap of $398.46 million, a PE ratio of -26.31 and a beta of 1.24. Horizon Technology Finance has a 12 month low of $10.51 and a 12 month high of $13.73. The company’s 50-day moving average price is $11.72 and its 200-day moving average price is $11.75.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $25.68 million during the quarter, compared to analysts’ expectations of $26.74 million. Horizon Technology Finance had a positive return on equity of 17.39% and a negative net margin of 21.19%. During the same period in the prior year, the business earned $0.54 EPS. As a group, sell-side analysts forecast that Horizon Technology Finance will post 1.23 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 16th. Shareholders 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 yield of 11.95%. The ex-dividend date is Monday, September 16th. Horizon Technology Finance’s dividend payout ratio is presently -314.28%.

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.