Brokerages Set Horizon Technology Finance Co. (NASDAQ:HRZN) PT at $9.70

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been assigned an average recommendation of “Reduce” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $9.63.

Several analysts have recently weighed in on the stock. B. Riley reiterated a “sell” rating and set a $9.00 target price (down from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st. Keefe, Bruyette & Woods reduced their price target on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st.

Hedge Funds Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HRZN. Creekmur Asset Management LLC acquired a new position in shares of Horizon Technology Finance during the fourth quarter worth approximately $52,000. Green Alpha Advisors LLC lifted its position in shares of Horizon Technology Finance by 15.1% during the first quarter. Green Alpha Advisors LLC now owns 228,943 shares of the investment management company’s stock worth $2,603,000 after purchasing an additional 29,956 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of Horizon Technology Finance during the first quarter worth approximately $201,000. ETF Store Inc. lifted its position in shares of Horizon Technology Finance by 2.4% during the first quarter. ETF Store Inc. now owns 48,806 shares of the investment management company’s stock worth $555,000 after purchasing an additional 1,158 shares in the last quarter. Finally, Connecticut Wealth Management LLC acquired a new position in shares of Horizon Technology Finance during the first quarter worth approximately $2,393,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Horizon Technology Finance Stock Performance

NASDAQ:HRZN opened at $10.33 on Tuesday. The firm’s 50-day moving average is $10.88 and its 200-day moving average is $11.45. Horizon Technology Finance has a 52-week low of $10.32 and a 52-week high of $13.73. The company has a market cap of $361.77 million, a price-to-earnings ratio of -24.60 and a beta of 1.23.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Horizon Technology Finance had a negative net margin of 21.19% and a positive return on equity of 17.39%. The business had revenue of $25.68 million for the quarter, compared to analyst estimates of $26.74 million. During the same period in the previous year, the business earned $0.54 EPS. Equities analysts predict that Horizon Technology Finance will post 1.23 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a $0.11 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.32 dividend on an annualized basis and a yield of 12.78%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -314.29%.

Horizon Technology Finance Company Profile

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.