Horizon Technology Finance Corporation $HRZN Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 225,732 shares of Horizon Technology Finance in the second quarter, worth approximately $1.07 million, while institutional investors collectively owned 4.94% of the company.
• Analyst sentiment remains mixed but leans toward “Hold”: one analyst rated the stock Buy, five Hold, and one Sell, with a consensus price target of $5.00.
• HRZN shares opened at $4.62, while the company reported quarterly EPS of $0.11—below the $0.13 consensus estimate—and declared a monthly dividend of $0.06 per share, representing a 15.6% annualized yield.

Bank of America Corp DE purchased a new position in shares of Horizon Technology Finance Corporation (NASDAQ:HRZN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 225,732 shares of the investment management company's stock, valued at approximately $1,068,000. Bank of America Corp DE owned 0.34% of Horizon Technology Finance as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in Horizon Technology Finance during the 2nd quarter worth approximately $1,821,000. Green Alpha Advisors LLC acquired a new position in shares of Horizon Technology Finance in the second quarter valued at approximately $2,033,000. BlackRock Inc. purchased a new stake in shares of Horizon Technology Finance during the second quarter worth approximately $856,000. Quantbot Technologies LP purchased a new stake in shares of Horizon Technology Finance during the second quarter worth approximately $172,000. Finally, Magnolia Capital Advisors LLC acquired a new stake in shares of Horizon Technology Finance during the second quarter worth $136,000. Hedge funds and other institutional investors own 4.94% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Horizon Technology Finance from $5.00 to $4.50 and set a "market perform" rating on the stock in a research note on Friday, August 21st. 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 target price for the company. Weiss Ratings downgraded shares of Horizon Technology Finance from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, August 19th. UBS Group lifted their target price on shares of Horizon Technology Finance from $4.25 to $4.50 and gave the company a "neutral" rating in a report on Tuesday, September 1st. Finally, Oppenheimer dropped their price target on shares of Horizon Technology Finance from $6.00 to $5.00 and set a "market perform" rating on the stock in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $5.00.

Horizon Technology Finance Price Performance

Shares of NASDAQ:HRZN opened at $4.62 on Friday. The company has a market cap of $309.68 million, a P/E ratio of 12.83 and a beta of 1.00. The business has a fifty day simple moving average of $4.71 and a 200-day simple moving average of $4.48. Horizon Technology Finance Corporation has a 52 week low of $3.80 and a 52 week high of $6.85.

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

Horizon Technology Finance Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, November 17th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $0.72 annualized dividend and a yield of 15.6%. Horizon Technology Finance's dividend payout ratio is 200.00%.

Horizon Technology Finance Profile

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.

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