Analysts Set Horizon Technology Finance Co. (NASDAQ:HRZN) Price Target at $10.38

Shares of Horizon Technology Finance Co. (NASDAQ:HRZN) have earned a consensus rating of “Reduce” from the five ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $10.38.

HRZN has been the topic of several research analyst reports. Oppenheimer reduced their price objective on Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Friday, March 1st. LADENBURG THALM/SH SH reissued a “neutral” rating on shares of Horizon Technology Finance in a research report on Wednesday, February 28th. UBS Group cut their target price on Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Finally, B. Riley downgraded Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 target price for the company. in a report on Monday, January 8th.

Horizon Technology Finance Stock Performance

HRZN opened at $11.68 on Wednesday. Horizon Technology Finance has a 52-week low of $10.75 and a 52-week high of $13.73. The firm has a market cap of $390.09 million, a P/E ratio of -23.84 and a beta of 1.21. The business’s fifty day moving average is $11.80 and its 200-day moving average is $12.33.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, February 27th. The investment management company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). Horizon Technology Finance had a negative net margin of 15.14% and a positive return on equity of 18.24%. The firm had revenue of $28.18 million during the quarter, compared to the consensus estimate of $29.21 million. On average, research analysts predict that Horizon Technology Finance will post 1.53 earnings per share for the current fiscal year.

Horizon Technology Finance Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 16th. Shareholders of record on Tuesday, March 19th were paid a $0.16 dividend. This represents a yield of 16.48%. The ex-dividend date of this dividend was Monday, March 18th. This is a boost from Horizon Technology Finance’s previous dividend of $0.11. Horizon Technology Finance’s dividend payout ratio (DPR) is -269.39%.

Insider Buying and Selling

In other Horizon Technology Finance news, President Gerald A. Michaud purchased 3,650 shares of the company’s stock in a transaction that occurred on 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 transaction, the president now owns 156,244 shares in the company, valued at $1,838,991.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. ETF Store Inc. lifted its stake in Horizon Technology Finance by 7.8% during the 3rd quarter. ETF Store Inc. now owns 42,988 shares of the investment management company’s stock valued at $511,000 after acquiring an additional 3,114 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Horizon Technology Finance in the third quarter valued at $175,000. Virtus ETF Advisers LLC lifted its holdings in Horizon Technology Finance by 136.4% during the third quarter. Virtus ETF Advisers LLC now owns 57,835 shares of the investment management company’s stock valued at $687,000 after purchasing an additional 33,367 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Horizon Technology Finance during the third quarter worth $755,000. Finally, Quadrature Capital Ltd bought a new position in shares of Horizon Technology Finance in the third quarter valued at approximately $517,000. Institutional investors own 4.94% of the company’s stock.

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.