Horizon Technology Finance Co. (NASDAQ:HRZN) Receives Average Recommendation of “Reduce” from Analysts

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have earned a consensus rating of “Reduce” from the five research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $8.85.

HRZN has been the subject of a number of analyst reports. StockNews.com downgraded Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods decreased their target price on Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating for the company in a research note on Tuesday, April 8th. Maxim Group decreased their target price on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Compass Point cut Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $6.50 target price for the company. in a research note on Wednesday, April 30th. Finally, UBS Group decreased their target price on Horizon Technology Finance from $9.00 to $8.25 and set a “neutral” rating for the company in a research note on Thursday, April 17th.

Institutional Investors Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HRZN. N.E.W. Advisory Services LLC purchased a new stake in Horizon Technology Finance in the first quarter valued at approximately $36,000. Crew Capital Management Ltd. purchased a new stake in Horizon Technology Finance in the fourth quarter valued at approximately $99,000. Mutual Advisors LLC purchased a new stake in Horizon Technology Finance in the fourth quarter valued at approximately $106,000. JPMorgan Chase & Co. purchased a new stake in Horizon Technology Finance in the third quarter valued at approximately $117,000. Finally, Quantbot Technologies LP lifted its stake in Horizon Technology Finance by 43.0% in the fourth quarter. Quantbot Technologies LP now owns 13,290 shares of the investment management company’s stock valued at $119,000 after buying an additional 3,996 shares during the last quarter. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Stock Performance

Shares of Horizon Technology Finance stock opened at $7.57 on Monday. Horizon Technology Finance has a one year low of $7.12 and a one year high of $12.63. The company has a market cap of $305.49 million, a PE ratio of -63.08 and a beta of 1.05. The business has a 50-day simple moving average of $8.60 and a 200-day simple moving average of $9.09.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, April 29th. The investment management company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. The company had revenue of $24.52 million for the quarter, compared to analyst estimates of $26.67 million. On average, sell-side 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 disclosed a monthly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Monday, August 18th will be paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 17.44%. The ex-dividend date is Monday, August 18th. Horizon Technology Finance’s dividend payout ratio is currently -145.05%.

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.