Horizon Technology Finance Corporation Declares Monthly Dividend of $0.10 (NASDAQ:HRZN)

Horizon Technology Finance Corporation (NASDAQ:HRZN) announced a monthly dividend on Wednesday, August 2nd, Wall Street Journal reports. Stockholders of record on Monday, November 20th will be paid a dividend of 0.10 per share by the investment management company on Friday, December 15th. This represents a $1.20 annualized dividend and a dividend yield of 10.90%. The ex-dividend date is Friday, November 17th.

Shares of Horizon Technology Finance Corporation (HRZN) traded up 0.18% during midday trading on Wednesday, hitting $11.01. 91,421 shares of the stock traded hands. The stock has a 50 day moving average of $11.39 and a 200 day moving average of $11.25. Horizon Technology Finance Corporation has a 1-year low of $9.64 and a 1-year high of $13.95.

Horizon Technology Finance Corporation (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, August 1st. The investment management company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.03. Horizon Technology Finance Corporation had a positive return on equity of 11.17% and a negative net margin of 8.67%. The company had revenue of $5.88 million during the quarter, compared to the consensus estimate of $6.71 million. During the same quarter in the previous year, the business posted $0.39 EPS. The firm’s revenue for the quarter was down 35.3% on a year-over-year basis. Analysts predict that Horizon Technology Finance Corporation will post $1.14 EPS for the current year.

In other Horizon Technology Finance Corporation news, Director Joseph J. Savage bought 7,000 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were purchased at an average price of $11.27 per share, for a total transaction of $78,890.00. Following the completion of the transaction, the director now directly owns 8,500 shares in the company, valued at approximately $95,795. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

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A number of research analysts have issued reports on HRZN shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $11.00 target price on shares of Horizon Technology Finance Corporation in a research report on Friday, April 28th. Maxim Group reiterated a “hold” rating on shares of Horizon Technology Finance Corporation in a research report on Wednesday. National Securities reiterated a “neutral” rating and issued a $11.00 target price on shares of Horizon Technology Finance Corporation in a research report on Monday, May 8th. Compass Point reiterated a “sell” rating and issued a $10.00 target price on shares of Horizon Technology Finance Corporation in a research report on Thursday, July 6th. Finally, Zacks Investment Research cut Horizon Technology Finance Corporation from a “hold” rating to a “strong sell” rating in a research report on Friday, May 5th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $12.13.

About Horizon Technology Finance Corporation

Horizon Technology Finance Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to maximize investment portfolio’s total return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments.