Brokerages Set Horizon Technology Finance Co. (NASDAQ:HRZN) PT at $9.70

Horizon Technology Finance Co. (NASDAQ:HRZN) has received a consensus recommendation of “Reduce” from the five ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $9.63.

HRZN has been the subject of several research reports. Keefe, Bruyette & Woods dropped their target price on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a research report on Thursday, August 1st. B. Riley reiterated a “sell” rating and issued a $9.00 price objective (down previously from $10.00) on shares of Horizon Technology Finance in a research note on Thursday, August 1st.

Horizon Technology Finance Price Performance

NASDAQ HRZN opened at $10.23 on Tuesday. The company has a market cap of $358.26 million, a P/E ratio of -24.29 and a beta of 1.23. The stock has a 50-day moving average of $10.85 and a two-hundred day moving average of $11.45. Horizon Technology Finance has a 1-year low of $10.05 and a 1-year high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, July 30th. The investment management company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $25.68 million during the quarter, compared to the consensus estimate of $26.74 million. Horizon Technology Finance had a positive return on equity of 17.39% and a negative net margin of 21.19%. During the same period in the previous year, the company posted $0.54 EPS. On average, analysts anticipate that Horizon Technology Finance will post 1.23 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.11 dividend. This represents a $1.32 annualized dividend and a dividend yield of 12.90%. The ex-dividend date of this dividend is Friday, November 15th. Horizon Technology Finance’s payout ratio is presently -314.29%.

Hedge Funds Weigh In On Horizon Technology Finance

Several hedge funds and other institutional investors have recently made changes to their positions in HRZN. Creekmur Asset Management LLC purchased a new stake in Horizon Technology Finance during the fourth quarter worth approximately $52,000. International Assets Investment Management LLC purchased a new stake in Horizon Technology Finance during the second quarter worth approximately $66,000. Global Assets Advisory LLC purchased a new stake in Horizon Technology Finance during the first quarter worth approximately $201,000. Paloma Partners Management Co purchased a new stake in Horizon Technology Finance during the first quarter worth approximately $209,000. Finally, Virtu Financial LLC purchased a new stake in Horizon Technology Finance during the first quarter worth approximately $257,000. Hedge funds and other institutional investors own 4.94% of the company’s stock.

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.