Horizon Technology Finance Co. Expected to Earn Q3 2024 Earnings of $0.36 Per Share (NASDAQ:HRZN)

Horizon Technology Finance Co. (NASDAQ:HRZN) – Investment analysts at B. Riley cut their Q3 2024 earnings per share (EPS) estimates for Horizon Technology Finance in a research note issued on Thursday, August 1st. B. Riley analyst B. Rowe now forecasts that the investment management company will post earnings per share of $0.36 for the quarter, down from their prior forecast of $0.38. B. Riley has a “Sell” rating and a $9.00 price target on the stock. The consensus estimate for Horizon Technology Finance’s current full-year earnings is $1.47 per share. B. Riley also issued estimates for Horizon Technology Finance’s Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $1.37 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.31 EPS and Q4 2025 earnings at $0.30 EPS.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $25.68 million for the quarter, compared to the consensus estimate of $26.74 million. Horizon Technology Finance had a negative net margin of 21.19% and a positive return on equity of 17.39%. During the same period in the prior year, the firm posted $0.54 EPS.

Separately, Keefe, Bruyette & Woods dropped their price objective on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $9.70.

Horizon Technology Finance Stock Performance

HRZN opened at $11.21 on Monday. The stock’s 50 day moving average price is $11.97 and its 200-day moving average price is $12.01. Horizon Technology Finance has a one year low of $10.51 and a one year high of $13.73. The stock has a market cap of $392.59 million, a price-to-earnings ratio of -26.69 and a beta of 1.24.

Hedge Funds Weigh In On Horizon Technology Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Connecticut Wealth Management LLC purchased a new stake in Horizon Technology Finance in the first quarter worth about $2,393,000. International Assets Investment Management LLC bought a new position in shares of Horizon Technology Finance during the fourth quarter valued at approximately $954,000. First Financial Bank Trust Division purchased a new position in Horizon Technology Finance during the second quarter valued at approximately $520,000. Green Alpha Advisors LLC raised its stake in Horizon Technology Finance by 15.1% in the first quarter. Green Alpha Advisors LLC now owns 228,943 shares of the investment management company’s stock worth $2,603,000 after buying an additional 29,956 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Horizon Technology Finance during the first quarter worth $257,000. Institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.11 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.32 annualized dividend and a yield of 11.78%. Horizon Technology Finance’s dividend payout ratio (DPR) is currently -314.29%.

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.