Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives Consensus Rating of "Reduce" from Brokerages

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 been assigned an average recommendation of "Reduce" from the five research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $7.30.

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

Horizon Technology Finance Price Performance

Shares of Horizon Technology Finance stock traded down $0.09 on Friday, hitting $6.63. The company had a trading volume of 264,105 shares, compared to its average volume of 491,952. The stock has a 50-day moving average of $7.37 and a 200-day moving average of $7.84. The firm has a market capitalization of $281.89 million, a P/E ratio of -5.75 and a beta of 0.99. Horizon Technology Finance has a twelve month low of $6.56 and a twelve month high of $10.77.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last posted its quarterly earnings results 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. Horizon Technology Finance had a negative net margin of 48.76% and a positive return on equity of 14.02%. The firm had revenue of ($9.89) million for the quarter, compared to analyst estimates of $24.54 million. Equities analysts predict that Horizon Technology Finance will post 1.38 EPS for the current year.

Horizon Technology Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 16th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, October 16th. This represents a c) annualized dividend and a dividend yield of 19.9%. Horizon Technology Finance's dividend payout ratio (DPR) is -114.78%.

Hedge Funds Weigh In On Horizon Technology Finance

Several hedge funds have recently made changes to their positions in the business. Green Alpha Advisors LLC grew its stake in Horizon Technology Finance by 8.1% in the second quarter. Green Alpha Advisors LLC now owns 387,726 shares of the investment management company's stock worth $2,792,000 after purchasing an additional 28,984 shares during the period. TrueMark Investments LLC boosted its stake in shares of Horizon Technology Finance by 30.2% during the 1st quarter. TrueMark Investments LLC now owns 272,512 shares of the investment management company's stock worth $2,567,000 after acquiring an additional 63,134 shares during the last quarter. Virtus Investment Advisers LLC lifted its holdings in Horizon Technology Finance by 25.6% during the second quarter. Virtus Investment Advisers LLC now owns 177,768 shares of the investment management company's stock valued at $1,280,000 after purchasing an additional 36,226 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Horizon Technology Finance by 20.2% in the 1st 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 in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Horizon Technology Finance during the second quarter valued at $411,000. 4.94% of the stock is owned by hedge funds and other 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.