Horizon Technology Finance Corporation (NASDAQ:HRZN) Receives Average Recommendation of “Reduce” from Brokerages

Horizon Technology Finance Corporation (NASDAQ:HRZN) has received an average rating of “Reduce” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $6.95.

A number of research firms recently commented on HRZN. Maxim Group decreased their target price on shares of Horizon Technology Finance from $10.00 to $7.50 and set a “buy” rating for the company in a research report on Monday, August 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Technology Finance in a report on Wednesday, October 8th. Finally, UBS Group dropped their price objective on shares of Horizon Technology Finance from $7.00 to $6.25 and set a “neutral” rating on the stock in a report on Tuesday.

Horizon Technology Finance Stock Performance

Shares of NASDAQ HRZN opened at $6.06 on Thursday. The stock has a 50 day moving average price of $6.65 and a 200 day moving average price of $7.44. Horizon Technology Finance has a 52-week low of $5.85 and a 52-week high of $10.69. The firm has a market capitalization of $257.85 million, a price-to-earnings ratio of -5.27 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. Horizon Technology Finance had a negative net margin of 48.76% and a positive return on equity of 14.02%. The firm had revenue of ($9.89) million during the quarter, compared to analysts’ expectations of $24.54 million. Analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Horizon Technology Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Thursday, October 16th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 21.8%. Horizon Technology Finance’s payout ratio is -114.78%.

Institutional Trading of Horizon Technology Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in HRZN. N.E.W. Advisory Services LLC acquired a new stake in shares of Horizon Technology Finance in the first quarter worth $36,000. Tower Research Capital LLC TRC acquired a new stake in shares of Horizon Technology Finance in the second quarter worth $60,000. Allworth Financial LP acquired a new stake in shares of Horizon Technology Finance in the second quarter worth $73,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Horizon Technology Finance in the second quarter worth $77,000. Finally, Marshall Wace LLP acquired a new stake in shares of Horizon Technology Finance in the second quarter worth $103,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

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.