Horizon Technology Finance Co. (NASDAQ:HRZN) Receives $8.85 Consensus Target Price from Brokerages

Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) has been assigned a consensus rating of "Reduce" from the five brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $8.45.

Several analysts recently weighed in on the stock. Compass Point cut shares of Horizon Technology Finance from a "neutral" rating to a "sell" rating and set a $6.50 price target on the stock. in a report on Wednesday, April 30th. Maxim Group dropped their target price on shares of Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 10th. B. Riley initiated coverage on shares of Horizon Technology Finance in a research note on Tuesday. They set a "neutral" rating and a $7.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Horizon Technology Finance from $8.00 to $7.50 and set an "underperform" rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group lowered their price objective on shares of Horizon Technology Finance from $9.00 to $8.25 and set a "neutral" rating for the company in a report on Thursday, April 17th.

Horizon Technology Finance Stock Performance

Shares of NASDAQ HRZN traded down $0.04 during trading hours on Monday, hitting $7.55. The company's stock had a trading volume of 702,303 shares, compared to its average volume of 379,017. Horizon Technology Finance has a 12 month low of $7.12 and a 12 month high of $12.63. The stock has a market cap of $304.68 million, a price-to-earnings ratio of -62.92 and a beta of 1.05. The business has a 50-day simple moving average of $8.55 and a 200-day simple moving average of $9.06.

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

Horizon Technology Finance Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 16th. Investors of record on Monday, August 18th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, August 18th. This represents a $1.32 dividend on an annualized basis and a yield of 17.48%. Horizon Technology Finance's dividend payout ratio (DPR) is currently -145.05%.

Institutional Trading of Horizon Technology Finance

A number of hedge funds have recently made changes to their positions in HRZN. N.E.W. Advisory Services LLC bought a new position in Horizon Technology Finance in the 1st quarter worth about $36,000. Crew Capital Management Ltd. purchased a new position in Horizon Technology Finance in the fourth quarter worth about $99,000. Mutual Advisors LLC purchased a new stake in Horizon Technology Finance during the fourth quarter valued at approximately $106,000. JPMorgan Chase & Co. bought a new position in Horizon Technology Finance in the 3rd quarter worth $117,000. Finally, Quantbot Technologies LP raised its stake in shares of Horizon Technology Finance by 43.0% in the fourth quarter. Quantbot Technologies LP now owns 13,290 shares of the investment management company's stock worth $119,000 after buying an additional 3,996 shares during the period. 4.94% of the stock is owned by institutional investors.

About Horizon Technology Finance

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.