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

Horizon Technology Finance Corporation (NASDAQ:HRZN) has been given an average recommendation of “Reduce” by the six research firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $7.30.

A number of equities research analysts have recently weighed in on HRZN shares. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Wednesday. Maxim Group dropped their price objective on shares of Horizon Technology Finance from $10.00 to $7.50 and set a “buy” rating for the company in a report on Monday, August 11th. Finally, UBS Group raised their price objective on shares of Horizon Technology Finance from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HRZN. N.E.W. Advisory Services LLC bought a new position in Horizon Technology Finance in the 1st quarter valued at approximately $36,000. Tower Research Capital LLC TRC bought a new position in Horizon Technology Finance in the 2nd quarter valued at approximately $60,000. Allworth Financial LP bought a new position in Horizon Technology Finance in the 2nd quarter valued at approximately $73,000. Y Intercept Hong Kong Ltd bought a new position in Horizon Technology Finance during the 2nd quarter worth approximately $77,000. Finally, Marshall Wace LLP bought a new position in Horizon Technology Finance during the 2nd quarter worth approximately $103,000. Institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Trading Down 0.3%

HRZN opened at $6.13 on Thursday. The company’s 50 day moving average is $6.82 and its 200-day moving average is $7.55. Horizon Technology Finance has a 1-year low of $5.97 and a 1-year high of $10.69. The company has a market cap of $260.81 million, a P/E ratio of -5.33 and a beta of 1.00.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. Horizon Technology Finance had a negative net margin of 48.76% and a positive return on equity of 14.02%. The company had revenue of ($9.89) million for the quarter, compared to the consensus estimate of $24.54 million. On average, equities analysts forecast that Horizon Technology Finance will post 1.38 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Thursday, October 16th will be issued a $0.11 dividend. This represents a c) dividend on an annualized basis and a yield of 21.5%. The ex-dividend date is Thursday, October 16th. Horizon Technology Finance’s dividend payout ratio (DPR) is -114.78%.

About Horizon Technology Finance

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.