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

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been assigned an average rating of “Reduce” from the five brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $10.80.

A number of research analysts have recently commented on the company. UBS Group dropped their price objective on Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a report on Monday, March 18th. LADENBURG THALM/SH SH restated a “neutral” rating on shares of Horizon Technology Finance in a research report on Wednesday, February 28th. Oppenheimer dropped their target price on shares of Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st. Finally, B. Riley cut shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 price target for the company. in a research report on Monday, January 8th.

Horizon Technology Finance Stock Up 1.2 %

Shares of Horizon Technology Finance stock opened at $11.37 on Friday. Horizon Technology Finance has a 52-week low of $10.75 and a 52-week high of $13.73. The company has a 50 day moving average of $12.44 and a 200 day moving average of $12.38. The company has a market capitalization of $379.74 million, a P/E ratio of -23.20 and a beta of 1.21.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, February 27th. The investment management company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). Horizon Technology Finance had a positive return on equity of 18.24% and a negative net margin of 15.14%. The firm had revenue of $28.18 million for the quarter, compared to analyst estimates of $29.21 million. As a group, research analysts anticipate that Horizon Technology Finance will post 1.53 earnings per share for the current fiscal year.

Horizon Technology Finance Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, April 16th. Investors of record on Tuesday, March 19th will be given a $0.16 dividend. This is an increase from Horizon Technology Finance’s previous dividend of $0.11. The ex-dividend date of this dividend is Monday, March 18th. This represents a yield of 16.48%. Horizon Technology Finance’s dividend payout ratio is -269.39%.

Insider Buying and Selling

In other Horizon Technology Finance news, President Gerald A. Michaud acquired 3,650 shares of the company’s stock in a transaction on Friday, March 8th. The shares were bought at an average cost of $11.77 per share, for a total transaction of $42,960.50. Following the completion of the purchase, the president now owns 156,244 shares in the company, valued at approximately $1,838,991.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV increased its stake in Horizon Technology Finance by 15.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 19,381 shares of the investment management company’s stock valued at $255,000 after buying an additional 2,627 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of Horizon Technology Finance during the third quarter worth about $755,000. Green Alpha Advisors LLC lifted its position in Horizon Technology Finance by 2.1% in the third quarter. Green Alpha Advisors LLC now owns 255,273 shares of the investment management company’s stock valued at $3,033,000 after purchasing an additional 5,157 shares during the period. ETF Store Inc. boosted its holdings in Horizon Technology Finance by 7.8% in the 3rd quarter. ETF Store Inc. now owns 42,988 shares of the investment management company’s stock valued at $511,000 after purchasing an additional 3,114 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in Horizon Technology Finance during the 3rd quarter worth approximately $175,000. 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.