Horizon Technology Finance Co. (HRZN) To Go Ex-Dividend on May 16th

Horizon Technology Finance Co. (NASDAQ:HRZN) announced a monthly dividend on Friday, March 7th, Wall Street Journal reports. Shareholders of record on Friday, May 16th will be given a dividend of 0.11 per share by the investment management company on Friday, June 13th. This represents a $1.32 dividend on an annualized basis and a yield of 14.24%. The ex-dividend date of this dividend is Friday, May 16th.

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 111.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 5.2 %

Horizon Technology Finance stock opened at $9.27 on Friday. Horizon Technology Finance has a twelve month low of $8.46 and a twelve month high of $12.63. The stock has a 50 day moving average of $9.39 and a two-hundred day moving average of $9.80. The stock has a market capitalization of $373.72 million, a price-to-earnings ratio of -77.25 and a beta of 1.18.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data 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). Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. The company had revenue of $23.55 million for the quarter, compared to analyst estimates of $25.69 million. Equities analysts predict that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Insider Activity at Horizon Technology Finance

In other news, Director Michael Balkin acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $8.53 per share, with a total value of $170,600.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $170,600. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 1.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com cut Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Compass Point raised Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price target for the company in a report on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods reduced their price target on Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Friday. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $8.94.

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.