Shares of Horizon Technology Finance Corp (NASDAQ:HRZN) have been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.83.
HRZN has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Horizon Technology Finance from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday, August 4th. ValuEngine upgraded shares of Horizon Technology Finance from a “strong sell” rating to a “sell” rating in a report on Thursday, September 3rd. TheStreet upgraded shares of Horizon Technology Finance from a “c+” rating to a “b-” rating in a report on Thursday, August 20th. Finally, National Securities initiated coverage on shares of Horizon Technology Finance in a report on Wednesday. They issued a “neutral” rating for the company.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Horizon Technology Finance by 2.4% during the 1st quarter. BlackRock Inc. now owns 78,262 shares of the investment management company’s stock valued at $635,000 after purchasing an additional 1,839 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Horizon Technology Finance by 19.1% in the 1st quarter. Raymond James & Associates now owns 12,227 shares of the investment management company’s stock valued at $99,000 after acquiring an additional 1,965 shares during the last quarter. Sowell Financial Services LLC boosted its holdings in shares of Horizon Technology Finance by 119.1% in the 1st quarter. Sowell Financial Services LLC now owns 4,020 shares of the investment management company’s stock valued at $33,000 after acquiring an additional 2,185 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Horizon Technology Finance in the 1st quarter valued at $62,000. Finally, Morgan Stanley boosted its holdings in shares of Horizon Technology Finance by 16.7% in the 1st quarter. Morgan Stanley now owns 43,614 shares of the investment management company’s stock valued at $354,000 after acquiring an additional 6,236 shares during the last quarter. Institutional investors and hedge funds own 7.58% of the company’s stock.
Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings data on Tuesday, July 28th. The investment management company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.12. Horizon Technology Finance had a net margin of 39.91% and a return on equity of 12.43%. The company had revenue of $13.52 million during the quarter, compared to analysts’ expectations of $11.08 million. Research analysts forecast that Horizon Technology Finance will post 1.27 EPS for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $1.20 dividend on an annualized basis and a yield of 10.03%. Horizon Technology Finance’s payout ratio is 78.95%.
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, and cleantech industries.
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