Horizon Technology Finance Corporation (NASDAQ:HRZN) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Analyst sentiment is mostly neutral: Seven firms give Horizon Technology Finance an average “Hold” rating (five holds, one sell, one buy), with an average 12-month price target of $4.65.
• For the latest quarter, the company reported earnings of $0.18 per share, matching estimates, while revenue of $24.06 million came in below the $25.12 million consensus.
• Horizon declared a monthly dividend of $0.06 per share, equivalent to a 19.4% annualized yield. Shares opened at $3.72, close to their 12-month low of $3.70.

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN - Get Free Report) have been given an average rating of "Hold" by the seven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $4.65.

HRZN has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their target price on shares of Horizon Technology Finance from $5.00 to $4.50 and set a "market perform" rating for the company in a research note on Friday, August 21st. Wall Street Zen upgraded shares of Horizon Technology Finance from a "hold" rating to a "buy" rating in a report on Saturday. Compass Point assumed coverage on shares of Horizon Technology Finance in a research note on Thursday, August 27th. They issued a "buy" rating and a $5.50 price target on the stock. Weiss Ratings lowered Horizon Technology Finance from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, August 19th. Finally, B. Riley Financial cut their price objective on Horizon Technology Finance from $5.00 to $4.50 and set a "neutral" rating for the company in a report on Tuesday.

Hedge Funds Weigh In On Horizon Technology Finance

Several hedge funds have recently bought and sold shares of HRZN. StoneX Group Inc. acquired a new stake in shares of Horizon Technology Finance in the third quarter worth about $115,000. Oppenheimer & Co. Inc. raised its stake in shares of Horizon Technology Finance by 65.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 20,196 shares of the investment management company's stock valued at $93,000 after acquiring an additional 7,983 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Horizon Technology Finance in the 2nd quarter valued at approximately $101,000. Squarepoint Ops LLC bought a new position in shares of Horizon Technology Finance in the 2nd quarter valued at approximately $93,000. Finally, Baird Financial Group Inc. acquired a new stake in Horizon Technology Finance in the 2nd quarter worth approximately $148,000. 4.94% of the stock is owned by institutional investors and hedge funds.

Horizon Technology Finance Stock Down 1.1%

Shares of NASDAQ:HRZN opened at $3.72 on Friday. The company's fifty day moving average is $4.36 and its two-hundred day moving average is $4.67. The company has a market cap of $242.28 million, a P/E ratio of -4.96 and a beta of 1.00. Horizon Technology Finance has a 12-month low of $3.70 and a 12-month high of $6.78.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The investment management company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Horizon Technology Finance had a positive return on equity of 10.31% and a negative net margin of 57.42%. The firm had revenue of $24.06 million for the quarter, compared to analyst estimates of $25.12 million. Equities research analysts anticipate that Horizon Technology Finance will post 0.64 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 16th. Stockholders of record on Thursday, February 18th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, February 18th. This represents a $0.72 annualized dividend and a dividend yield of 19.4%. Horizon Technology Finance's dividend payout ratio is -96.00%.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a specialty finance company that provides loans and growth capital to venture capital-backed businesses, particularly companies in the development and expansion stages. The company focuses on sectors including technology, life sciences, healthcare information and services, and sustainability. Its financing products primarily include secured loans, and it may also receive warrants or other equity-related interests as part of its investments. Horizon operates in the United States and is externally managed by Horizon Technology Finance Management LLC.

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