Horizon Technology Finance Corporation (HRZN) Receives Consensus Rating of “Hold” from Brokerages
Horizon Technology Finance Corporation (NASDAQ:HRZN) has been given a consensus rating of “Hold” by the ten analysts that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $10.75.
A number of research firms have recently commented on HRZN. Wells Fargo & Co cut Horizon Technology Finance from a “market perform” rating to an “underperform” rating in a research note on Tuesday, January 9th. National Securities cut Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $10.00 target price on the stock. in a research note on Tuesday, October 17th. ValuEngine raised Horizon Technology Finance from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research cut Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, TheStreet raised Horizon Technology Finance from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st.
A number of large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. grew its stake in Horizon Technology Finance by 8.4% in the third quarter. Advisors Asset Management Inc. now owns 349,600 shares of the investment management company’s stock worth $3,884,000 after purchasing an additional 27,218 shares in the last quarter. WFG Advisors LP grew its stake in Horizon Technology Finance by 30.8% in the second quarter. WFG Advisors LP now owns 24,950 shares of the investment management company’s stock worth $283,000 after purchasing an additional 5,878 shares in the last quarter. Shelton Capital Management bought a new position in Horizon Technology Finance in the third quarter worth approximately $244,000. Royal Bank of Canada grew its stake in Horizon Technology Finance by 25.8% in the second quarter. Royal Bank of Canada now owns 20,752 shares of the investment management company’s stock worth $235,000 after purchasing an additional 4,252 shares in the last quarter. Finally, Investment Centers of America Inc. bought a new position in Horizon Technology Finance in the second quarter worth approximately $136,000. 17.05% of the stock is currently owned by institutional investors.
Horizon Technology Finance (NASDAQ:HRZN) last released its earnings results on Tuesday, October 31st. The investment management company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $6.77 million for the quarter, compared to analysts’ expectations of $6.39 million. Horizon Technology Finance had a return on equity of 9.96% and a net margin of 24.46%. equities analysts predict that Horizon Technology Finance will post 1.12 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, January 22nd will be paid a $0.10 dividend. The ex-dividend date is Friday, January 19th. This represents a $1.20 annualized dividend and a yield of 10.42%. Horizon Technology Finance’s dividend payout ratio (DPR) is currently 210.53%.
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About Horizon Technology Finance
Horizon Technology Finance Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to maximize investment portfolio’s total return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments.
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