Horizon Technology Finance Co. Declares Monthly Dividend of $0.11 (NASDAQ:HRZN)

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Friday, May 3rd, Wall Street Journal reports. Investors of record on Wednesday, July 17th will be paid a dividend of 0.11 per share by the investment management company on Thursday, August 15th. This represents a $1.32 annualized dividend and a yield of 11.18%. The ex-dividend date of this dividend is Wednesday, July 17th.

Horizon Technology Finance has increased its dividend payment by an average of 3.2% annually over the last three years. Horizon Technology Finance has a dividend payout ratio of 91.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Horizon Technology Finance to earn $1.48 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 89.2%.

Horizon Technology Finance Stock Performance

Shares of NASDAQ:HRZN traded up $0.02 during trading on Friday, hitting $11.81. 224,095 shares of the stock were exchanged, compared to its average volume of 272,494. The company has a market capitalization of $413.60 million, a price-to-earnings ratio of -28.12 and a beta of 1.19. The company’s fifty day simple moving average is $11.58 and its 200-day simple moving average is $12.30. Horizon Technology Finance has a 1-year low of $10.75 and a 1-year high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, February 27th. The investment management company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The business had revenue of $28.18 million during the quarter, compared to the consensus estimate of $29.21 million. Horizon Technology Finance had a negative net margin of 12.40% and a positive return on equity of 17.98%. On average, research analysts forecast that Horizon Technology Finance will post 1.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Gerald A. Michaud purchased 3,650 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $11.77 per share, with a total value of $42,960.50. Following the completion of the purchase, the president now directly owns 156,244 shares of the company’s stock, valued at approximately $1,838,991.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Horizon Technology Finance in a research report on Wednesday, February 28th. Oppenheimer reduced their price target on shares of Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st. B. Riley lowered shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 price objective for the company. in a report on Monday, January 8th. Finally, UBS Group reduced their target price on Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a report on Monday, March 18th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, Horizon Technology Finance currently has an average rating of “Hold” and a consensus price target of $10.38.

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, cleantech and sustainability industries.