Horizon Technology Finance Co. to Issue Monthly Dividend of $0.11 (NASDAQ:HRZN)

Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) declared a monthly dividend on Friday, May 3rd, Wall Street Journal reports. Investors of record on Wednesday, July 17th will be given a dividend of 0.11 per share by the investment management company on Thursday, August 15th. This represents a $1.32 dividend on an annualized basis and a yield of 11.18%. The ex-dividend date is Wednesday, July 17th.

Horizon Technology Finance has raised its dividend payment by an average of 3.2% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 91.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Equities analysts expect Horizon Technology Finance to earn $1.48 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 89.2%.

Horizon Technology Finance Price Performance

Shares of NASDAQ:HRZN traded up $0.02 on Friday, hitting $11.81. 224,095 shares of the company's stock were exchanged, compared to its average volume of 272,494. The business's 50 day simple moving average is $11.58 and its two-hundred day simple moving average is $12.30. The stock has a market capitalization of $413.60 million, a price-to-earnings ratio of -28.12 and a beta of 1.19. Horizon Technology Finance has a 12 month low of $10.75 and a 12 month high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last issued its earnings results on Tuesday, February 27th. The investment management company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.03). The firm had revenue of $28.18 million for the quarter, compared to the consensus estimate of $29.21 million. Horizon Technology Finance had a negative net margin of 12.40% and a positive return on equity of 17.98%. Equities analysts forecast that Horizon Technology Finance will post 1.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HRZN has been the topic of several research reports. UBS Group cut their target price on Horizon Technology Finance from $11.50 to $10.50 and set a "neutral" rating on the stock in a research report on Monday, March 18th. Oppenheimer reduced their price objective on Horizon Technology Finance from $11.00 to $10.00 and set a "market perform" rating for the company in a research note on Friday, March 1st. B. Riley lowered Horizon Technology Finance from a "neutral" rating to a "sell" rating and set a $11.00 target price on the stock. in a report on Monday, January 8th. Finally, LADENBURG THALM/SH SH reissued a "neutral" rating on shares of Horizon Technology Finance in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.38.

Insiders Place Their Bets

In other news, President Gerald A. Michaud purchased 3,650 shares of the business's stock in a transaction dated Friday, March 8th. The stock was acquired at an average price of $11.77 per share, for a total transaction of $42,960.50. Following the acquisition, the president now directly owns 156,244 shares of the company's stock, valued at $1,838,991.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.50% 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.

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