Horizon Technology Finance Corporation (NASDAQ:HRZN) Given Average Recommendation of “Reduce” by Analysts

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have earned a consensus rating of “Reduce” from the seven brokerages that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $6.20.

Several equities analysts recently weighed in on HRZN shares. UBS Group increased their price target on shares of Horizon Technology Finance from $6.25 to $6.50 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Keefe, Bruyette & Woods upgraded shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price objective for the company in a research note on Thursday. Wall Street Zen downgraded shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Thursday, January 22nd. Finally, B. Riley Financial reduced their target price on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a report on Friday.

Horizon Technology Finance Stock Performance

Shares of HRZN opened at $4.20 on Friday. The stock has a 50-day moving average of $6.41 and a two-hundred day moving average of $6.47. The stock has a market cap of $200.80 million, a P/E ratio of -26.25 and a beta of 0.97. Horizon Technology Finance has a one year low of $4.16 and a one year high of $9.52.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, March 3rd. The investment management company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). Horizon Technology Finance had a negative net margin of 2.77% and a positive return on equity of 14.52%. The firm had revenue of $0.58 million during the quarter, compared to analyst estimates of $25.64 million. Analysts predict that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, May 18th will be given a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 17.1%. The ex-dividend date of this dividend is Monday, May 18th. Horizon Technology Finance’s dividend payout ratio (DPR) is currently -825.00%.

Hedge Funds Weigh In On Horizon Technology Finance

Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new stake in shares of Horizon Technology Finance in the fourth quarter worth about $365,000. Schonfeld Strategic Advisors LLC acquired a new position in Horizon Technology Finance in the fourth quarter valued at approximately $187,000. Regal Investment Advisors LLC acquired a new position in Horizon Technology Finance in the fourth quarter valued at approximately $316,000. Captrust Financial Advisors purchased a new stake in Horizon Technology Finance in the 4th quarter worth approximately $323,000. Finally, HRT Financial LP purchased a new stake in Horizon Technology Finance in the 4th quarter worth approximately $77,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.