Horizon Technology Finance Co. (HRZN) To Go Ex-Dividend on March 17th

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Friday, February 28th, NASDAQ Dividends reports. Investors of record on Monday, March 17th will be paid a dividend of 0.11 per share by the investment management company on Tuesday, April 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 14.35%. The ex-dividend date is Monday, March 17th.

Horizon Technology Finance has increased its dividend payment by an average of 3.2% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 109.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Horizon Technology Finance to earn $1.26 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 104.8%.

Horizon Technology Finance Trading Up 1.3 %

HRZN opened at $9.20 on Friday. Horizon Technology Finance has a 1-year low of $8.46 and a 1-year high of $12.63. The company has a market cap of $370.90 million, a price-to-earnings ratio of -76.67 and a beta of 1.18. The company’s fifty day moving average price is $9.41 and its two-hundred day moving average price is $9.74.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, March 4th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The business had revenue of $23.55 million during the quarter, compared to analyst estimates of $25.69 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. As a group, equities analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HRZN. Keefe, Bruyette & Woods decreased their price target on Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating for the company in a research report on Friday, March 7th. Maxim Group decreased their target price on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 10th. StockNews.com downgraded shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Finally, Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price objective for the company in a report on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.75.

Insider Transactions at Horizon Technology Finance

In related news, Director Michael Balkin bought 20,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $8.53 per share, for a total transaction of $170,600.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $170,600. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.34% of the stock is owned by corporate insiders.

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.