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

Horizon Technology Finance Co. (NASDAQ:HRZN) has earned an average rating of “Reduce” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $9.75.

A number of research analysts recently weighed in on the company. StockNews.com lowered Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price target on the stock in a report on Tuesday, December 17th. Keefe, Bruyette & Woods decreased their target price on Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating on the stock in a report on Friday. Finally, Maxim Group decreased their price target on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday.

Horizon Technology Finance Stock Performance

Shares of NASDAQ HRZN traded up $0.12 during mid-day trading on Monday, hitting $9.39. The stock had a trading volume of 410,286 shares, compared to its average volume of 342,226. The firm has a market cap of $378.56 million, a P/E ratio of -78.25 and a beta of 1.18. The business has a 50 day moving average price of $9.39 and a two-hundred day moving average price of $9.79. Horizon Technology Finance has a 1 year low of $8.46 and a 1 year high of $12.63.

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 the consensus estimate 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 business had revenue of $23.55 million for the quarter, compared to analysts’ expectations of $25.69 million. Equities research analysts predict that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $0.11 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.32 annualized dividend and a dividend yield of 14.06%. Horizon Technology Finance’s dividend payout ratio is presently -1,100.00%.

Insider Activity at Horizon Technology Finance

In related news, Director Michael Balkin bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $8.53 per share, for a total transaction of $170,600.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $170,600. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Horizon Technology Finance

Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP lifted its stake in Horizon Technology Finance by 44.6% in the fourth quarter. Two Sigma Advisers LP now owns 49,897 shares of the investment management company’s stock valued at $449,000 after acquiring an additional 15,397 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Horizon Technology Finance in the 4th quarter valued at $220,000. Brevan Howard Capital Management LP raised its stake in shares of Horizon Technology Finance by 15.1% in the fourth quarter. Brevan Howard Capital Management LP now owns 16,093 shares of the investment management company’s stock valued at $145,000 after buying an additional 2,108 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Horizon Technology Finance in the fourth quarter worth $173,000. Finally, Jane Street Group LLC bought a new position in shares of Horizon Technology Finance during the fourth quarter valued at about $447,000. Institutional investors own 4.94% of the company’s stock.

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.