Horizon Technology Finance (NASDAQ:HRZN) Releases Earnings Results

Horizon Technology Finance (NASDAQ:HRZN) posted its quarterly earnings results on Tuesday. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03), Zacks reports. The business had revenue of $24.56 million for the quarter, compared to the consensus estimate of $25.38 million. Horizon Technology Finance had a positive return on equity of 17.39% and a negative net margin of 21.19%. During the same quarter in the previous year, the company posted $0.53 earnings per share.

Horizon Technology Finance Stock Down 3.2 %

NASDAQ HRZN traded down $0.32 on Wednesday, reaching $9.69. The company had a trading volume of 1,134,674 shares, compared to its average volume of 285,284. The stock has a market capitalization of $339.35 million, a P/E ratio of -23.07 and a beta of 1.23. The company’s fifty day moving average is $10.67 and its 200 day moving average is $11.38. Horizon Technology Finance has a 52-week low of $9.30 and a 52-week high of $13.73.

Horizon Technology Finance Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 13.62%. The ex-dividend date of this dividend is Friday, November 15th. Horizon Technology Finance’s payout ratio is currently -314.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on HRZN shares. Keefe, Bruyette & Woods cut their target price on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. B. Riley reiterated a “sell” rating and issued a $9.00 target price (down from $10.00) on shares of Horizon Technology Finance in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.63.

Horizon Technology Finance Company Profile

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.