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

Shares of Horizon Technology Finance Co. (NASDAQ:HRZNGet Free Report) have received an average recommendation of “Reduce” from the five analysts that are currently covering the company, MarketBeat.com 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 target among brokerages that have updated their coverage on the stock in the last year is $10.38.

HRZN has been the topic of a number of recent analyst reports. Oppenheimer cut their price objective 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. LADENBURG THALM/SH SH reaffirmed a “neutral” rating on shares of Horizon Technology Finance in a research note on Wednesday, February 28th. Finally, UBS Group cut their price objective on Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating for the company in a research report on Monday, March 18th.

Read Our Latest Stock Analysis on Horizon Technology Finance

Insider Activity

In other 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 acquired at an average price of $11.77 per share, for a total transaction of $42,960.50. Following the transaction, the president now directly owns 156,244 shares of the company’s stock, valued at approximately $1,838,991.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HRZN. ETF Store Inc. grew its holdings in shares of Horizon Technology Finance by 2.4% in the first quarter. ETF Store Inc. now owns 48,806 shares of the investment management company’s stock valued at $555,000 after acquiring an additional 1,158 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in Horizon Technology Finance by 15.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 19,381 shares of the investment management company’s stock valued at $255,000 after acquiring an additional 2,627 shares during the last quarter. Financial Gravity Asset Management Inc. increased its stake in Horizon Technology Finance by 25,158.3% in the third quarter. Financial Gravity Asset Management Inc. now owns 3,031 shares of the investment management company’s stock valued at $33,000 after acquiring an additional 3,019 shares during the last quarter. Creekmur Asset Management LLC bought a new position in Horizon Technology Finance in the fourth quarter valued at $52,000. Finally, Cape Investment Advisory Inc. bought a new position in shares of Horizon Technology Finance during the fourth quarter valued at about $56,000. 4.94% of the stock is owned by institutional investors and hedge funds.

Horizon Technology Finance Stock Up 0.8 %

Shares of HRZN stock opened at $11.92 on Thursday. The stock has a 50-day simple moving average of $11.54 and a 200 day simple moving average of $12.30. Horizon Technology Finance has a fifty-two week low of $10.75 and a fifty-two week high of $13.73. The stock has a market capitalization of $417.44 million, a P/E ratio of -28.38 and a beta of 1.22.

Horizon Technology Finance (NASDAQ:HRZNGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The investment management company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Horizon Technology Finance had a positive return on equity of 17.98% and a negative net margin of 12.40%. The business had revenue of $26.13 million during the quarter, compared to analyst estimates of $26.83 million. On average, sell-side analysts anticipate that Horizon Technology Finance will post 1.48 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Monday, June 17th will be issued a $0.11 dividend. The ex-dividend date is Monday, June 17th. This represents a $1.32 annualized dividend and a yield of 11.07%. Horizon Technology Finance’s dividend payout ratio is presently -314.28%.

Horizon Technology Finance Company Profile

(Get Free Report

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.

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Analyst Recommendations for Horizon Technology Finance (NASDAQ:HRZN)

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