Horizon Technology Finance Corporation (NASDAQ:HRZN) Given Consensus Rating of “Reduce” by Brokerages

Horizon Technology Finance Corporation (NASDAQ:HRZN) has been assigned a consensus recommendation of “Reduce” from the six brokerages that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $6.95.

HRZN has been the subject of several recent analyst reports. UBS Group reduced their target price on shares of Horizon Technology Finance from $7.00 to $6.25 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Wall Street Zen upgraded shares of Horizon Technology Finance from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Maxim Group lowered their price objective on Horizon Technology Finance from $10.00 to $7.50 and set a “buy” rating on the stock in a report on Monday, August 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Wednesday, October 8th.

Horizon Technology Finance Trading Up 0.9%

NASDAQ:HRZN opened at $6.67 on Monday. Horizon Technology Finance has a 12-month low of $5.70 and a 12-month high of $9.99. The stock’s 50 day simple moving average is $6.38 and its 200-day simple moving average is $7.17. The firm has a market cap of $296.03 million, a P/E ratio of -9.96 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The firm had revenue of $26.32 million during the quarter, compared to the consensus estimate of $22.99 million. Horizon Technology Finance had a positive return on equity of 15.01% and a negative net margin of 24.19%. Research analysts forecast that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, February 17th will be given a $0.11 dividend. The ex-dividend date is Tuesday, February 17th. This represents a c) annualized dividend and a yield of 19.8%. Horizon Technology Finance’s dividend payout ratio is presently -197.01%.

Hedge Funds Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently made changes to their positions in HRZN. International Assets Investment Management LLC increased its holdings in shares of Horizon Technology Finance by 3.5% in the 3rd quarter. International Assets Investment Management LLC now owns 59,135 shares of the investment management company’s stock valued at $361,000 after purchasing an additional 2,000 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Horizon Technology Finance during the first quarter worth about $36,000. CANADA LIFE ASSURANCE Co grew its position in Horizon Technology Finance by 20.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 43,268 shares of the investment management company’s stock worth $312,000 after buying an additional 7,197 shares during the period. ETF Store Inc. increased its holdings in Horizon Technology Finance by 16.6% in the first quarter. ETF Store Inc. now owns 55,348 shares of the investment management company’s stock valued at $521,000 after buying an additional 7,877 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Horizon Technology Finance during the 2nd quarter valued at approximately $60,000. 4.94% of the stock is owned by institutional investors and hedge funds.

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.