Horizon Technology Finance Co. (NASDAQ:HRZN) Declares $0.11 Monthly Dividend

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Friday, February 28th, NASDAQ Dividends reports. Investors of record on Monday, March 17th will be paid a dividend of 0.11 per share by the investment management company on Tuesday, April 15th. This represents a $1.32 annualized dividend and a dividend yield of 14.35%. The ex-dividend date is Monday, March 17th.

Horizon Technology Finance has raised its dividend by an average of 3.2% annually over the last three years. Horizon Technology Finance has a dividend payout ratio of 109.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Horizon Technology Finance to earn $1.26 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 104.8%.

Horizon Technology Finance Trading Up 1.3 %

Shares of Horizon Technology Finance stock opened at $9.20 on Friday. The company’s fifty day simple moving average is $9.41 and its two-hundred day simple moving average is $9.74. The company has a market cap of $370.90 million, a P/E ratio of -76.67 and a beta of 1.18. Horizon Technology Finance has a 12-month low of $8.46 and a 12-month high of $12.63.

Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, March 4th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The business had revenue of $23.55 million during the quarter, compared to analysts’ expectations of $25.69 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. Analysts predict that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael Balkin purchased 20,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average price of $8.53 per share, for a total transaction of $170,600.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $170,600. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on HRZN shares. Maxim Group reduced their target price on shares of Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. StockNews.com cut shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods dropped their price target on shares of Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating on the stock in a research note on Friday, March 7th. Finally, Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price on the stock in a research note on Tuesday, December 17th. Three 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.75.

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.