Horizon Technology Finance Co. (NASDAQ:HRZN) Given Average Recommendation of "Reduce" by Brokerages

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) have been given a consensus recommendation of "Reduce" by the five research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $8.45.

HRZN has been the topic of several recent research reports. UBS Group decreased their price target on Horizon Technology Finance from $9.00 to $8.25 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Maxim Group decreased their price target on Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, March 10th. B. Riley initiated coverage on Horizon Technology Finance in a report on Tuesday, May 13th. They issued a "neutral" rating and a $7.00 price target on the stock. Wall Street Zen cut Horizon Technology Finance from a "hold" rating to a "sell" rating in a report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods decreased their price target on Horizon Technology Finance from $8.00 to $7.50 and set an "underperform" rating on the stock in a report on Tuesday, April 8th.

Horizon Technology Finance Stock Performance

Shares of NASDAQ:HRZN opened at $7.44 on Friday. Horizon Technology Finance has a twelve month low of $7.12 and a twelve month high of $12.63. The firm has a market cap of $300.24 million, a PE ratio of -62.00 and a beta of 1.05. The business has a fifty day moving average of $7.94 and a 200-day moving average of $8.83.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last announced its earnings results on Tuesday, April 29th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.06). The business had revenue of $24.52 million during the quarter, compared to analyst estimates of $26.67 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. On average, analysts anticipate that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a yield of 17.74%. The ex-dividend date of this dividend is Monday, June 16th. Horizon Technology Finance's dividend payout ratio (DPR) is currently -145.05%.

Hedge Funds Weigh In On Horizon Technology Finance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC bought a new position in Horizon Technology Finance during the first quarter worth about $36,000. Cetera Investment Advisers raised its position in shares of Horizon Technology Finance by 20.2% during the first quarter. Cetera Investment Advisers now owns 63,008 shares of the investment management company's stock worth $594,000 after purchasing an additional 10,603 shares during the period. ETF Store Inc. raised its position in shares of Horizon Technology Finance by 16.6% during the first quarter. ETF Store Inc. now owns 55,348 shares of the investment management company's stock worth $521,000 after purchasing an additional 7,877 shares during the period. TrueMark Investments LLC raised its position in shares of Horizon Technology Finance by 30.2% during the first quarter. TrueMark Investments LLC now owns 272,512 shares of the investment management company's stock worth $2,567,000 after purchasing an additional 63,134 shares during the period. Finally, Green Alpha Advisors LLC raised its position in shares of Horizon Technology Finance by 23.5% during the first quarter. Green Alpha Advisors LLC now owns 358,742 shares of the investment management company's stock worth $3,379,000 after purchasing an additional 68,295 shares during the period. 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.

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