Wells Fargo & Co downgraded shares of Horizon Technology Finance (NASDAQ:HRZN) from a market perform rating to an underperform rating in a research note issued to investors on Tuesday morning, Marketbeat reports.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Horizon Technology Finance from a sell rating to a hold rating in a research note on Friday, November 3rd. National Securities restated a sell rating and issued a $10.00 price objective on shares of Horizon Technology Finance in a research report on Thursday, November 2nd. ValuEngine upgraded shares of Horizon Technology Finance from a hold rating to a buy rating in a research report on Saturday, November 4th. TheStreet upgraded shares of Horizon Technology Finance from a c rating to a b- rating in a research report on Wednesday, November 1st. Finally, Raymond James Financial upgraded shares of Horizon Technology Finance from an underperform rating to a market perform rating in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $10.75.

Horizon Technology Finance (NASDAQ:HRZN) traded up $0.35 on Tuesday, hitting $11.52. 64,739 shares of the stock traded hands, compared to its average volume of 66,433. The stock has a market capitalization of $128.66, a P/E ratio of 20.21 and a beta of 0.85. Horizon Technology Finance has a 52-week low of $9.66 and a 52-week high of $11.81.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, October 31st. The investment management company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $6.77 million during the quarter, compared to the consensus estimate of $6.39 million. Horizon Technology Finance had a net margin of 24.46% and a return on equity of 9.96%. analysts anticipate that Horizon Technology Finance will post 1.12 earnings per share for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, January 22nd will be given a $0.10 dividend. The ex-dividend date is Friday, January 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.42%. Horizon Technology Finance’s dividend payout ratio (DPR) is currently 210.53%.

Several hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in shares of Horizon Technology Finance by 8.4% in the third quarter. Advisors Asset Management Inc. now owns 349,600 shares of the investment management company’s stock valued at $3,884,000 after acquiring an additional 27,218 shares during the period. WFG Advisors LP boosted its position in shares of Horizon Technology Finance by 30.8% in the second quarter. WFG Advisors LP now owns 24,950 shares of the investment management company’s stock valued at $283,000 after acquiring an additional 5,878 shares during the period. Shelton Capital Management bought a new position in shares of Horizon Technology Finance in the third quarter valued at approximately $244,000. Royal Bank of Canada boosted its position in shares of Horizon Technology Finance by 25.8% in the second quarter. Royal Bank of Canada now owns 20,752 shares of the investment management company’s stock valued at $235,000 after acquiring an additional 4,252 shares during the period. Finally, Investment Centers of America Inc. bought a new position in shares of Horizon Technology Finance in the second quarter valued at approximately $136,000. Institutional investors own 17.05% of the company’s stock.

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About Horizon Technology Finance

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.

Analyst Recommendations for Horizon Technology Finance (NASDAQ:HRZN)

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