Horizon Technology Finance Corporation (NASDAQ:HRZN) Stock Now Rated "Hold" by Sell-Side Brokerages

Key Points

• Analysts rate HRZN a consensus “Hold”: Five of seven analysts are neutral, with one sell and one buy rating. The average 12-month price target is $5.00, modestly above the reported $4.59 share price.
• Quarterly results fell short of expectations: Horizon Technology Finance reported $0.11 in earnings per share versus the $0.13 consensus estimate, while revenue of $25.05 million was slightly below forecasts.
• The company declared a monthly $0.06 dividend: This equates to an annualized payout of $0.72 and a 15.7% yield, but the reported 200% payout ratio highlights potential sustainability concerns.

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN - Get Free Report) have been assigned an average recommendation of "Hold" from the seven analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $5.00.

A number of research firms have issued reports on HRZN. UBS Group raised their price target on shares of Horizon Technology Finance from $4.25 to $4.50 and gave the stock a "neutral" rating in a research report on Tuesday, September 1st. Weiss Ratings lowered shares of Horizon Technology Finance from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday, August 19th. Oppenheimer reduced their target price on shares of Horizon Technology Finance from $6.00 to $5.00 and set a "market perform" rating for the company in a report on Friday, August 7th. Compass Point started coverage on shares of Horizon Technology Finance in a research report on Thursday, August 27th. They set a "buy" rating and a $5.50 target price for the company. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Horizon Technology Finance from $5.00 to $4.50 and set a "market perform" rating on the stock in a report on Friday, August 21st.

Institutional Trading of Horizon Technology Finance

Several hedge funds and other institutional investors have recently bought and sold shares of HRZN. Sanctuary Advisors LLC acquired a new position in Horizon Technology Finance in the first quarter valued at approximately $50,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Horizon Technology Finance during the 1st quarter worth approximately $52,000. Ausdal Financial Partners Inc. purchased a new position in shares of Horizon Technology Finance during the 2nd quarter valued at approximately $54,000. Chapin Davis Inc. purchased a new position in shares of Horizon Technology Finance during the 2nd quarter valued at approximately $60,000. Finally, HighTower Advisors LLC acquired a new position in shares of Horizon Technology Finance in the 2nd quarter valued at $61,000. 4.94% of the stock is owned by institutional investors and hedge funds.

Horizon Technology Finance Stock Performance

Shares of HRZN opened at $4.59 on Friday. The stock has a 50-day moving average of $4.70 and a two-hundred day moving average of $4.47. The stock has a market cap of $307.67 million, a P/E ratio of 12.75 and a beta of 0.99. Horizon Technology Finance has a one year low of $3.80 and a one year high of $6.85.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Horizon Technology Finance had a net margin of 5.27% and a return on equity of 11.15%. The firm had revenue of $25.05 million during the quarter, compared to analyst estimates of $25.22 million. Analysts predict that Horizon Technology Finance will post 0.63 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, November 17th will be issued a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 15.7%. The ex-dividend date of this dividend is Tuesday, November 17th. Horizon Technology Finance's payout ratio is 200.00%.

About Horizon Technology Finance

Horizon Technology Finance Corporation NASDAQ: HRZN is a specialty finance company that operates as a business development company. It provides secured venture loans and other forms of debt financing to emerging-growth companies backed by venture capital or private equity investors.

The company primarily serves businesses in the technology, life sciences, healthcare information technology, and sustainability sectors. Its financing solutions may support product development, capital expenditures, acquisitions, working capital, and other corporate needs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.