Horizon Technology Finance Co. (NASDAQ:HRZN) Declares Dividend of $0.11

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a dividend on Monday, June 16th, investing.com reports. Shareholders of record on Tuesday, June 17th will be given a dividend of 0.11 per share by the investment management company on Tuesday, July 15th. This represents a yield of 18.06%. The ex-dividend date of this dividend is Monday, June 16th.

Horizon Technology Finance has a dividend payout ratio of 114.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Horizon Technology Finance to earn $1.26 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 104.8%.

Horizon Technology Finance Stock Down 2.9%

Shares of NASDAQ:HRZN traded down $0.22 during trading on Monday, reaching $7.31. 981,716 shares of the company traded hands, compared to its average volume of 398,332. The company’s 50 day moving average is $7.80 and its two-hundred day moving average is $8.75. The firm has a market capitalization of $295.00 million, a PE ratio of -60.92 and a beta of 1.01. Horizon Technology Finance has a 52 week low of $7.12 and a 52 week high of $12.63.

Horizon Technology Finance (NASDAQ:HRZN) last posted 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 negative net margin of 3.69% and a positive return on equity of 15.78%. The firm had revenue of $24.52 million during the quarter, compared to the consensus estimate of $26.67 million. As a group, research analysts anticipate that Horizon Technology Finance will post 1.38 EPS for the current year.

Analysts Set New Price Targets

HRZN has been the subject of several recent research reports. UBS Group cut their price objective on shares of Horizon Technology Finance from $9.00 to $8.25 and set a “neutral” rating for the company in a report on Thursday, April 17th. Compass Point cut Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $6.50 price objective for the company. in a report on Wednesday, April 30th. Wall Street Zen cut shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Maxim Group dropped their price objective 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. Finally, B. Riley assumed coverage on Horizon Technology Finance in a report on Tuesday, May 13th. They set a “neutral” rating and a $7.00 price target on the stock. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.45.

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.