Q2 2024 Earnings Forecast for Horizon Technology Finance Co. Issued By B. Riley (NASDAQ:HRZN)

Horizon Technology Finance Co. (NASDAQ:HRZN) – Research analysts at B. Riley decreased their Q2 2024 earnings per share estimates for shares of Horizon Technology Finance in a research note issued on Thursday, May 2nd. B. Riley analyst B. Rowe now forecasts that the investment management company will earn $0.30 per share for the quarter, down from their previous estimate of $0.33. B. Riley currently has a “Sell” rating and a $11.00 target price on the stock. The consensus estimate for Horizon Technology Finance’s current full-year earnings is $1.53 per share. B. Riley also issued estimates for Horizon Technology Finance’s Q4 2024 earnings at $0.33 EPS and FY2024 earnings at $1.40 EPS.

A number of other equities research analysts have also recently weighed in on the company. UBS Group dropped their price target on Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Oppenheimer dropped their price target on Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Friday, March 1st. Finally, LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Horizon Technology Finance in a research report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, Horizon Technology Finance currently has an average rating of “Hold” and a consensus price target of $10.38.

Horizon Technology Finance Trading Up 0.2 %

HRZN opened at $11.81 on Friday. Horizon Technology Finance has a 1-year low of $10.75 and a 1-year high of $13.73. The stock’s fifty day simple moving average is $11.58 and its 200 day simple moving average is $12.30. The stock has a market cap of $413.60 million, a PE ratio of -28.12 and a beta of 1.19.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings data on Tuesday, February 27th. The investment management company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). The company had revenue of $28.18 million during the quarter, compared to analyst estimates of $29.21 million. Horizon Technology Finance had a negative net margin of 12.40% and a positive return on equity of 17.98%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HRZN. Connecticut Wealth Management LLC acquired a new stake in Horizon Technology Finance in the first quarter valued at about $2,393,000. International Assets Investment Management LLC acquired a new stake in Horizon Technology Finance in the fourth quarter valued at about $954,000. PNC Financial Services Group Inc. acquired a new stake in Horizon Technology Finance in the third quarter valued at about $755,000. Quadrature Capital Ltd acquired a new stake in Horizon Technology Finance in the third quarter valued at about $517,000. Finally, Virtus ETF Advisers LLC boosted its stake in Horizon Technology Finance by 136.4% in the third quarter. Virtus ETF Advisers LLC now owns 57,835 shares of the investment management company’s stock valued at $687,000 after buying an additional 33,367 shares in the last quarter. Institutional investors own 4.94% of the company’s stock.

Insider Buying and Selling

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

Horizon Technology Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 17th will be given a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.18%. The ex-dividend date is Wednesday, July 17th. Horizon Technology Finance’s payout ratio is currently -314.29%.

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.