Horizon Technology Finance (NASDAQ:HRZN) Issues Quarterly Earnings Results

Horizon Technology Finance (NASDAQ:HRZN) announced its quarterly earnings results on Tuesday, August 4th. The investment management company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02), Zacks reports. Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%.The business had revenue of $25.05 million for the quarter, compared to analyst estimates of $25.22 million.

Horizon Technology Finance Stock Performance

Horizon Technology Finance stock opened at $4.79 on Thursday. The business’s 50-day simple moving average is $4.69 and its 200-day simple moving average is $4.55. The firm has a market capitalization of $321.07 million, a PE ratio of 13.31 and a beta of 0.99. Horizon Technology Finance has a 52 week low of $3.80 and a 52 week high of $6.97.

Horizon Technology Finance Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, November 17th will be given a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 15.0%. The ex-dividend date of this dividend is Tuesday, November 17th. Horizon Technology Finance’s dividend payout ratio (DPR) is currently 200.00%.

Institutional Trading of Horizon Technology Finance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co lifted its holdings in shares of 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 last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Horizon Technology Finance in the second quarter worth $60,000. HRT Financial LP bought a new position in Horizon Technology Finance during the fourth quarter worth $77,000. Quantbot Technologies LP raised its stake in Horizon Technology Finance by 300.7% during the 2nd quarter. Quantbot Technologies LP now owns 17,332 shares of the investment management company’s stock valued at $125,000 after purchasing an additional 13,007 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Horizon Technology Finance during the 2nd quarter valued at $103,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HRZN shares. Compass Point began 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 for the company. Keefe, Bruyette & Woods reduced their price target on Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating for the company in a research report on Friday, August 21st. UBS Group upped their price target on Horizon Technology Finance from $4.25 to $4.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Oppenheimer lowered their price objective on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. Finally, Weiss Ratings downgraded Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Horizon Technology Finance currently has an average rating of “Hold” and an average price target of $5.00.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.