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

Key Points

• Horizon Technology Finance Corporation has received an average analyst recommendation of "Reduce", with three analysts recommending a sell, two a hold, and one a buy.
• The company recently announced a monthly dividend of $0.11, reflecting a high annualized dividend yield of 21.5%.
• Shares of HRZN opened at $6.13, with a market capitalization of approximately $260.81 million and a reported negative net margin of 48.76% for the last quarter.

Horizon Technology Finance Corporation (NASDAQ:HRZN - Get Free Report) has received an average rating of "Reduce" from the six analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $7.30.

HRZN has been the topic of several research reports. UBS Group upped their price target on shares of Horizon Technology Finance from $7.50 to $8.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Weiss Ratings restated a "sell (d)" rating on shares of Horizon Technology Finance in a research note on Wednesday. Finally, Maxim Group decreased their price target on shares of Horizon Technology Finance from $10.00 to $7.50 and set a "buy" rating on the stock in a research note on Monday, August 11th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HRZN. Green Alpha Advisors LLC lifted its stake in Horizon Technology Finance by 8.1% during 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 last quarter. TrueMark Investments LLC lifted its stake 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. Virtus Investment Advisers LLC lifted its stake 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 worth $1,280,000 after purchasing an additional 36,226 shares during the last quarter. Cetera Investment Advisers lifted its stake in 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 last quarter. Finally, International Assets Investment Management LLC bought a new stake in Horizon Technology Finance during the second quarter worth $411,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Horizon Technology Finance Price Performance

Shares of HRZN opened at $6.13 on Thursday. The company's 50-day moving average is $6.82 and its 200-day moving average is $7.55. Horizon Technology Finance has a fifty-two week low of $5.97 and a fifty-two week high of $10.69. The firm has a market capitalization of $260.81 million, a PE ratio of -5.33 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.28 EPS for the quarter, meeting 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 business had revenue of ($9.89) million for the quarter, compared to the consensus estimate of $24.54 million. Analysts predict that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 16th will be given a $0.11 dividend. The ex-dividend date is Thursday, October 16th. This represents a c) annualized dividend and a dividend yield of 21.5%. Horizon Technology Finance's payout ratio is presently -114.78%.

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.

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