Horizon Technology Finance Co. (NASDAQ:HRZN) Given Consensus Rating of “Reduce” by Brokerages

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have been assigned a consensus rating of “Reduce” from the five ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.38.

Several brokerages have issued reports on HRZN. LADENBURG THALM/SH SH reaffirmed a “neutral” rating on shares of Horizon Technology Finance in a research note on Wednesday, February 28th. B. Riley cut shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 price target on the stock. in a research report on Monday, January 8th. Oppenheimer lowered their price target 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, UBS Group lowered their price target on shares of Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a research report on Monday, March 18th.

Horizon Technology Finance Stock Up 0.2 %

Shares of HRZN opened at $11.25 on Wednesday. Horizon Technology Finance has a 52-week low of $10.75 and a 52-week high of $13.73. The firm’s fifty day moving average is $11.97 and its two-hundred day moving average is $12.34. The stock has a market cap of $375.75 million, a PE ratio of -22.96 and a beta of 1.21.

Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Tuesday, February 27th. The investment management company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business 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 year.

Horizon Technology Finance Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, April 16th. Investors of record on Tuesday, March 19th were issued a $0.16 dividend. This is a positive change from Horizon Technology Finance’s previous dividend of $0.11. This represents a yield of 16.48%. The ex-dividend date was Monday, March 18th. Horizon Technology Finance’s payout ratio is -269.38%.

Insider Activity at Horizon Technology Finance

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

Institutional Trading of Horizon Technology Finance

Several institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. purchased a new stake in Horizon Technology Finance during the first quarter worth about $28,000. Financial Gravity Asset Management Inc. increased its stake in Horizon Technology Finance by 25,158.3% during the third quarter. Financial Gravity Asset Management Inc. now owns 3,031 shares of the investment management company’s stock worth $33,000 after purchasing an additional 3,019 shares during the period. JPMorgan Chase & Co. increased its stake in Horizon Technology Finance by 86.5% during the second quarter. JPMorgan Chase & Co. now owns 3,969 shares of the investment management company’s stock worth $46,000 after purchasing an additional 1,841 shares during the period. Creekmur Asset Management LLC purchased a new stake in Horizon Technology Finance during the fourth quarter worth about $52,000. Finally, BNP Paribas Arbitrage SNC purchased a new stake in Horizon Technology Finance during the third quarter worth about $52,000. 4.94% of the stock is currently owned by hedge funds and other institutional investors.

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.