Raymond James Financial, Inc. reiterated their underperform rating on shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) in a research note published on Thursday, MarketBeat.com reports.
A number of other equities research analysts have also recently commented on HRZN. Keefe, Bruyette & Woods restated a hold rating and issued a $11.00 price target on shares of Horizon Technology Finance Corporation in a report on Friday, April 28th. Zacks Investment Research cut shares of Horizon Technology Finance Corporation from a hold rating to a strong sell rating in a report on Friday, May 5th. National Securities restated a neutral rating and issued a $11.00 price target on shares of Horizon Technology Finance Corporation in a report on Monday, May 8th. Compass Point restated a sell rating and issued a $10.00 price target on shares of Horizon Technology Finance Corporation in a report on Thursday, July 6th. Finally, Maxim Group restated a hold rating on shares of Horizon Technology Finance Corporation in a report on Wednesday. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has an average rating of Hold and an average price target of $11.25.
Horizon Technology Finance Corporation (NASDAQ:HRZN) traded up 0.28% during midday trading on Thursday, reaching $10.79. 110,102 shares of the company traded hands. The company has a 50 day moving average of $11.39 and a 200-day moving average of $11.25. Horizon Technology Finance Corporation has a 12-month low of $9.64 and a 12-month high of $13.93.
Horizon Technology Finance Corporation (NASDAQ:HRZN) last posted its quarterly earnings results on Tuesday, August 1st. The investment management company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $5.88 million during the quarter, compared to analyst estimates of $6.71 million. Horizon Technology Finance Corporation had a positive return on equity of 10.24% and a negative net margin of 6.72%. The company’s revenue for the quarter was down 35.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. On average, equities analysts expect that Horizon Technology Finance Corporation will post $1.07 EPS for the current fiscal year.
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The business also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 11.12%. The ex-dividend date is Wednesday, October 18th. Horizon Technology Finance Corporation’s payout ratio is -749.95%.
In other Horizon Technology Finance Corporation news, Director Joseph J. Savage acquired 7,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were purchased at an average cost of $11.27 per share, with a total value of $78,890.00. Following the completion of the purchase, the director now owns 8,500 shares of the company’s stock, valued at $95,795. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Founders Financial Securities LLC raised its position in Horizon Technology Finance Corporation by 25.8% in the first quarter. Founders Financial Securities LLC now owns 12,646 shares of the investment management company’s stock worth $141,000 after buying an additional 2,591 shares during the period. Nwam LLC acquired a new position in Horizon Technology Finance Corporation during the first quarter worth $174,000. Infrastructure Capital Advisors LLC acquired a new position in Horizon Technology Finance Corporation during the first quarter worth $184,000. Wells Fargo & Company MN raised its position in Horizon Technology Finance Corporation by 2.2% in the first quarter. Wells Fargo & Company MN now owns 65,616 shares of the investment management company’s stock worth $730,000 after buying an additional 1,414 shares during the period. Finally, Guggenheim Capital LLC raised its position in Horizon Technology Finance Corporation by 27.3% in the fourth quarter. Guggenheim Capital LLC now owns 166,046 shares of the investment management company’s stock worth $1,748,000 after buying an additional 35,572 shares during the period. 17.45% of the stock is currently owned by hedge funds and other institutional investors.
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.
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