Horizon Technology Finance (NASDAQ:HRZN) Releases Quarterly Earnings Results, Hits Estimates

Key Points

• Horizon Technology Finance reported quarterly earnings of $0.28 EPS, meeting analysts' expectations while also recording a negative net margin of 36.34% and a return on equity of 13.98%.
• The stock price declined by $0.22 to $7.20, with a market cap of $290.35 million and an average target price from analysts of $8.40.
• The company announced a dividend of $0.11, representing an extremely high yield of 1,806.0%, despite a negative dividend payout ratio of -145.05%.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) released its quarterly earnings results on Thursday. The investment management company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28, Zacks reports. The company had revenue of ($9.89) million for the quarter, compared to analyst estimates of $24.54 million. Horizon Technology Finance had a negative net margin of 48.76% and a positive return on equity of 13.54%.

Horizon Technology Finance Stock Performance

Shares of NASDAQ:HRZN traded up $0.08 during midday trading on Tuesday, hitting $7.22. The company's stock had a trading volume of 107,201 shares, compared to its average volume of 459,396. The business's 50 day simple moving average is $7.68 and its 200 day simple moving average is $8.34. The company has a market cap of $307.00 million, a P/E ratio of -6.25 and a beta of 0.99. Horizon Technology Finance has a 12-month low of $6.77 and a 12-month high of $11.47.

Horizon Technology Finance Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 17th were paid a $0.11 dividend. This represents a dividend yield of 1,806.0%. The ex-dividend date of this dividend was Monday, June 16th. Horizon Technology Finance's dividend payout ratio (DPR) is currently -114.78%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of Horizon Technology Finance from $7.50 to $8.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Maxim Group dropped their target price on shares of Horizon Technology Finance from $10.00 to $7.50 and set a "buy" rating on the stock in a research report on Monday. Compass Point lowered shares of Horizon Technology Finance from a "neutral" rating to a "sell" rating and set a $6.50 target price on the stock. in a research report on Wednesday, April 30th. Finally, B. Riley assumed coverage on shares of Horizon Technology Finance in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $7.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Horizon Technology Finance presently has a consensus rating of "Hold" and a consensus target price of $7.30.

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.