Horizon Technology Finance Corporation (NASDAQ:HRZN) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) have received an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $5.00.

Several equities research analysts have weighed in on HRZN shares. UBS Group upped their target price on Horizon Technology Finance from $4.25 to $4.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Compass Point started coverage on Horizon Technology Finance in a report on Thursday, August 27th. They set a “buy” rating and a $5.50 price target for the company. Oppenheimer dropped their price objective on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Friday, August 7th. Keefe, Bruyette & Woods reduced their price objective on Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating on the stock in a research note on Friday, August 21st. Finally, Weiss Ratings cut Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 19th.

Horizon Technology Finance Stock Up 2.2%

NASDAQ:HRZN opened at $4.63 on Friday. The stock’s 50 day moving average price is $4.70 and its two-hundred day moving average price is $4.48. The firm has a market capitalization of $310.35 million, a price-to-earnings ratio of 12.86 and a beta of 0.99. Horizon Technology Finance has a 12-month low of $3.80 and a 12-month high of $6.85.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, August 4th. The investment management company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%.The company had revenue of $25.05 million for the quarter, compared to analyst estimates of $25.22 million. Equities research analysts expect that Horizon Technology Finance will post 0.63 EPS for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, November 17th will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 15.6%. The ex-dividend date is Tuesday, November 17th. Horizon Technology Finance’s dividend payout ratio is currently 200.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC acquired a new stake in shares of Horizon Technology Finance during the 2nd quarter valued at $101,000. Squarepoint Ops LLC acquired a new position in Horizon Technology Finance in the 2nd quarter worth about $93,000. Baird Financial Group Inc. acquired a new position in Horizon Technology Finance in the 2nd quarter worth about $148,000. Corient Private Wealth LP bought a new position in Horizon Technology Finance in the second quarter valued at about $422,000. Finally, HighTower Advisors LLC bought a new position in Horizon Technology Finance in the second quarter valued at about $61,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

About Horizon Technology Finance

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a specialty finance company that operates as a business development company. It provides secured venture loans and other forms of debt financing to emerging-growth companies backed by venture capital or private equity investors.

The company primarily serves businesses in the technology, life sciences, healthcare information technology, and sustainability sectors. Its financing solutions may support product development, capital expenditures, acquisitions, working capital, and other corporate needs.