Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives Average Rating of "Reduce" from Analysts

Key Points

• Horizon Technology Finance Corporation (NASDAQ:HRZN) has a consensus rating of "Reduce" from analysts, with two sell recommendations, two holds, and one buy rating.
• The company recently reported $0.28 earnings per share for the last quarter, meeting analyst expectations, but its revenue fell short at ($9.89) million compared to the forecast of $24.54 million.
• Horizon Technology Finance announced a monthly dividend of $0.11 per share, yielding approximately 19.0%, but has a negative payout ratio of -114.78%.

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

A number of analysts have recently issued reports on HRZN shares. Maxim Group cut their price target on shares of Horizon Technology Finance from $10.00 to $7.50 and set a "buy" rating for the company in a report on Monday, August 11th. 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. Compass Point downgraded shares of Horizon Technology Finance from a "neutral" rating to a "sell" rating and set a $6.50 price target for the company. in a report on Wednesday, April 30th. Finally, B. Riley started coverage on shares of Horizon Technology Finance in a research report on Tuesday, May 13th. They set a "neutral" rating and a $7.00 price objective for the company.

Horizon Technology Finance Price Performance

Shares of NASDAQ HRZN remained flat at $6.98 during midday trading on Wednesday. 641,286 shares of the stock were exchanged, compared to its average volume of 646,276. The firm has a fifty day moving average of $7.59 and a 200 day moving average of $8.19. The stock has a market cap of $297.00 million, a PE ratio of -6.07 and a beta of 0.99. Horizon Technology Finance has a fifty-two week low of $6.77 and a fifty-two week high of $11.19.

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

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 17th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a c) dividend on an annualized basis and a dividend yield of 18.9%. Horizon Technology Finance's dividend payout ratio (DPR) is presently -114.78%.

Hedge Funds Weigh In On Horizon Technology Finance

A number of hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co boosted its position in shares of Horizon Technology Finance by 20.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 43,268 shares of the investment management company's stock worth $312,000 after purchasing an additional 7,197 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Horizon Technology Finance during the 2nd quarter worth approximately $60,000. Oxford Asset Management LLP purchased a new position in shares of Horizon Technology Finance during the 2nd quarter worth approximately $285,000. BNP Paribas Financial Markets purchased a new position in shares of Horizon Technology Finance during the 2nd quarter worth approximately $122,000. Finally, Marshall Wace LLP purchased a new position in shares of Horizon Technology Finance during the 2nd quarter worth approximately $103,000. Hedge funds and other institutional investors own 4.94% of the company's stock.

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.