Horizon Technology Finance Corporation (NASDAQ:HRZN) Given Average Rating of "Reduce" by Analysts

Key Points

• Horizon Technology Finance Corporation has received a consensus rating of "Reduce" from five analysts, with two sell ratings, two hold ratings, and one buy rating, while the average target price stands at $7.30.
• Recently, the company announced a monthly dividend of $0.11, which reflects a 19.3% annualized yield, despite a high dividend payout ratio of -114.78%.
• Shares of Horizon Technology Finance opened at $6.85 and experienced a 1.6% decline, with a market capitalization of $291.47 million.

Horizon Technology Finance Corporation (NASDAQ:HRZN - Get Free Report) has earned a consensus recommendation of "Reduce" from the five analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $7.30.

A number of brokerages have weighed in on HRZN. UBS Group raised their price objective on Horizon Technology Finance from $7.50 to $8.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Maxim Group dropped their price objective on shares of Horizon Technology Finance from $10.00 to $7.50 and set a "buy" rating for the company in a research note on Monday, August 11th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. TrueMark Investments LLC increased its position in 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 last quarter. Jane Street Group LLC acquired a new position in Horizon Technology Finance in the fourth quarter valued at approximately $447,000. D. E. Shaw & Co. Inc. purchased a new position in Horizon Technology Finance in the fourth quarter worth approximately $220,000. Green Alpha Advisors LLC increased its stake in 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 acquiring an additional 68,295 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in Horizon Technology Finance in the first quarter valued at $36,000. Institutional investors and hedge funds own 4.94% of the company's stock.

Horizon Technology Finance Stock Down 1.6%

Shares of NASDAQ HRZN opened at $6.85 on Friday. The company's 50-day simple moving average is $7.46 and its 200-day simple moving average is $7.91. Horizon Technology Finance has a 52-week low of $6.77 and a 52-week high of $11.08. The firm has a market cap of $291.47 million, a price-to-earnings ratio of -5.96 and a beta of 0.99.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. The company had revenue of ($9.89) million for the quarter, compared to analysts' expectations of $24.54 million. Horizon Technology Finance had a positive return on equity of 14.02% and a negative net margin of 48.76%. Equities research analysts anticipate that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 14th. Shareholders of record on Thursday, October 16th will be issued a $0.11 dividend. This represents a c) annualized dividend and a yield of 19.3%. The ex-dividend date is Thursday, October 16th. Horizon Technology Finance's dividend payout ratio is presently -114.78%.

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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