Horizon Technology Finance Co. (NASDAQ:HRZN) Receives Consensus Rating of “Hold” from Brokerages
Shares of Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $10.88.
HRZN has been the subject of several research reports. UBS Group initiated coverage on shares of Horizon Technology Finance in a report on Friday, September 9th. They issued a “neutral” rating and a $12.50 price target for the company. StockNews.com assumed coverage on Horizon Technology Finance in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. B. Riley restated a “neutral” rating and set a $10.50 price objective on shares of Horizon Technology Finance in a research report on Friday, September 16th. Janney Montgomery Scott started coverage on Horizon Technology Finance in a research report on Wednesday, October 5th. They issued a “neutral” rating and a $10.00 target price on the stock. Finally, Keefe, Bruyette & Woods downgraded shares of Horizon Technology Finance from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $11.50 to $10.50 in a report on Tuesday.
Horizon Technology Finance Stock Performance
Shares of HRZN stock traded down $0.98 during trading hours on Tuesday, hitting $11.03. 1,873 shares of the company were exchanged, compared to its average volume of 182,323. The stock has a market capitalization of $291.20 million, a price-to-earnings ratio of 13.73 and a beta of 1.14. Horizon Technology Finance has a one year low of $9.67 and a one year high of $16.54. The business’s 50-day simple moving average is $12.28 and its two-hundred day simple moving average is $12.10.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last released its earnings results on Tuesday, November 1st. The investment management company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. Horizon Technology Finance had a return on equity of 11.93{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} and a net margin of 26.58{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9}. The company had revenue of $23.25 million for the quarter, compared to the consensus estimate of $18.92 million. As a group, analysts anticipate that Horizon Technology Finance will post 1.42 EPS for the current fiscal year.
Horizon Technology Finance Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, February 17th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $1.32 dividend on an annualized basis and a yield of 11.97{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9}. Horizon Technology Finance’s dividend payout ratio (DPR) is presently 148.15{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9}.
Insider Activity
In related news, President Gerald A. Michaud acquired 4,000 shares of Horizon Technology Finance stock in a transaction that occurred on Tuesday, December 6th. The stock was acquired at an average price of $12.90 per share, with a total value of $51,600.00. Following the completion of the acquisition, the president now directly owns 126,335 shares of the company’s stock, valued at approximately $1,629,721.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have acquired 9,258 shares of company stock valued at $118,544. Company insiders own 1.50{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} of the company’s stock.
Institutional Trading of Horizon Technology Finance
A number of institutional investors have recently made changes to their positions in the stock. Green Alpha Advisors LLC boosted its stake in Horizon Technology Finance by 364.2{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} during the 2nd quarter. Green Alpha Advisors LLC now owns 592,570 shares of the investment management company’s stock valued at $6,838,000 after purchasing an additional 464,907 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Horizon Technology Finance in the third quarter worth approximately $323,000. Shelton Capital Management increased its holdings in shares of Horizon Technology Finance by 8.5{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} in the first quarter. Shelton Capital Management now owns 410,000 shares of the investment management company’s stock valued at $5,699,000 after buying an additional 32,000 shares in the last quarter. Graypoint LLC bought a new stake in shares of Horizon Technology Finance during the 3rd quarter worth $290,000. Finally, Marshall Wace LLP grew its holdings in shares of Horizon Technology Finance by 25.8{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} in the 3rd quarter. Marshall Wace LLP now owns 133,634 shares of the investment management company’s stock worth $1,338,000 after acquiring an additional 27,432 shares during the last quarter. 12.53{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} of the stock is owned by institutional investors and hedge funds.
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, and cleantech industries.
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