Horizon Technology Finance (NASDAQ:HRZN) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• HRZN shares briefly moved above their 200-day moving average, reaching $4.73 before last trading at $4.53, compared with a 200-day average of $4.50.
• Analyst sentiment remains mostly cautious: five analysts rate the stock Hold, one rates it Buy, and one rates it Sell, producing a consensus rating of Hold and a $5.00 price target.
• Horizon reported quarterly EPS of $0.11, below the $0.13 consensus estimate, while declaring a $0.06 monthly dividend that implies a roughly 15.9% annualized yield.

Horizon Technology Finance Corporation (NASDAQ:HRZN - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.50 and traded as high as $4.73. Horizon Technology Finance shares last traded at $4.53, with a volume of 754,597 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HRZN. Keefe, Bruyette & Woods dropped their price target on Horizon Technology Finance from $5.00 to $4.50 and set a "market perform" rating for the company in a report on Friday, August 21st. Oppenheimer reduced their price objective on Horizon Technology Finance from $6.00 to $5.00 and set a "market perform" rating on the stock in a research note on Friday, August 7th. Weiss Ratings cut Horizon Technology Finance from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, August 19th. UBS Group raised their target price on Horizon Technology Finance from $4.25 to $4.50 and gave the company a "neutral" rating in a research note on Tuesday, September 1st. Finally, Compass Point started coverage on Horizon Technology Finance in a report on Thursday, August 27th. They issued a "buy" rating and a $5.50 price target for the company. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $5.00.

Horizon Technology Finance Stock Down 3.4%

The business's fifty day moving average is $4.70 and its two-hundred day moving average is $4.50. The firm has a market cap of $303.65 million, a price-to-earnings ratio of 12.58 and a beta of 0.99.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $25.05 million for the quarter, compared to analyst estimates of $25.22 million. Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%. Research analysts forecast that Horizon Technology Finance Corporation will post 0.63 EPS for the current year.

Horizon Technology Finance Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, November 17th will be paid a dividend of $0.06 per share. This represents a c) annualized dividend and a dividend yield of 15.9%. The ex-dividend date of this dividend is Tuesday, November 17th. Horizon Technology Finance's dividend payout ratio is 200.00%.

Hedge Funds Weigh In On Horizon Technology Finance

Hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in Horizon Technology Finance during the 1st quarter worth about $50,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Horizon Technology Finance during the 1st quarter valued at about $52,000. Ausdal Financial Partners Inc. bought a new position in shares of Horizon Technology Finance in the 2nd quarter valued at about $54,000. Chapin Davis Inc. bought a new position in shares of Horizon Technology Finance in the 2nd quarter valued at about $60,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Horizon Technology Finance during the 2nd quarter worth approximately $61,000. Institutional investors own 4.94% of the company's stock.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation NASDAQ: HRZN is a specialty finance company that operates as a business development company. It provides secured venture loans and other forms of debt financing to emerging-growth companies backed by venture capital or private equity investors.

The company primarily serves businesses in the technology, life sciences, healthcare information technology, and sustainability sectors. Its financing solutions may support product development, capital expenditures, acquisitions, working capital, and other corporate needs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.