Horizon Technology Finance (NASDAQ:HRZN) Share Price Breaks Above Two Hundred Day Moving Average – Here’s Why

Horizon Technology Finance Corporation (NASDAQ:HRZN) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $4.50 and traded as high as $4.63. Horizon Technology Finance shares last traded at $4.58, with a volume of 264,670 shares trading hands.

Analysts Set New Price Targets

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

Horizon Technology Finance Price Performance

The company’s 50 day moving average is $4.73 and its two-hundred day moving average is $4.50. The firm has a market cap of $302.31 million, a P/E ratio of 12.53 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, August 4th. The investment management company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates 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 predict that Horizon Technology Finance Corporation will post 0.63 EPS for the current year.

Horizon Technology Finance Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, November 17th will be issued a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 16.0%. The ex-dividend date of this dividend is Tuesday, November 17th. Horizon Technology Finance’s dividend payout ratio (DPR) is presently 200.00%.

Institutional Trading of Horizon Technology Finance

Institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC acquired a new position in shares of Horizon Technology Finance in the second quarter valued at $101,000. Squarepoint Ops LLC bought a new position in Horizon Technology Finance in the second quarter worth $93,000. Baird Financial Group Inc. bought a new position in Horizon Technology Finance in the second quarter worth $148,000. Corient Private Wealth LP bought a new position in Horizon Technology Finance in the second quarter worth $422,000. Finally, HighTower Advisors LLC acquired a new stake in Horizon Technology Finance during the second quarter worth $61,000. 4.94% of the stock is currently owned by institutional investors.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a business development company that provides secured venture loans to companies backed by venture capital and private equity investors. The company focuses on lending to businesses that may have limited access to traditional bank financing but possess growth potential and institutional investor support.

Horizon primarily serves companies in the technology, life sciences, healthcare information and services, and sustainability sectors.