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

Horizon Technology Finance Co. (NASDAQ:HRZN) announced a monthly dividend on Friday, February 28th, NASDAQ Dividends reports. Investors 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 dividend on an annualized basis and a yield of 14.35%. The ex-dividend date is Monday, March 17th.

Horizon Technology Finance has increased its dividend by an average of 3.2% per year over the last three years. Horizon Technology Finance has a dividend 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. Equities 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 Trading Up 1.3 %

Horizon Technology Finance stock opened at $9.20 on Friday. The firm’s 50 day simple moving average is $9.41 and its 200 day simple moving average is $9.74. The firm has a market capitalization of $370.90 million, a PE ratio of -76.67 and a beta of 1.18. 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 posted its earnings results on Tuesday, March 4th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The firm had revenue of $23.55 million for the quarter, compared to the consensus estimate of $25.69 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. Research analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Insider Activity

In other Horizon Technology Finance news, Director Michael Balkin acquired 20,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $8.53 per share, with a total value of $170,600.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $170,600. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.