Horizon Technology Finance Corp (NASDAQ:HRZN) – B. Riley dropped their Q1 2020 earnings per share estimates for shares of Horizon Technology Finance in a note issued to investors on Tuesday, March 24th. B. Riley analyst T. Hayes now forecasts that the investment management company will earn $0.29 per share for the quarter, down from their previous estimate of $0.30. B. Riley has a “Neutral” rating and a $8.50 price target on the stock. B. Riley also issued estimates for Horizon Technology Finance’s Q2 2020 earnings at $0.30 EPS, Q3 2020 earnings at $0.30 EPS, Q4 2020 earnings at $0.30 EPS, FY2020 earnings at $1.20 EPS, Q1 2021 earnings at $0.28 EPS, Q2 2021 earnings at $0.32 EPS, Q3 2021 earnings at $0.33 EPS, Q4 2021 earnings at $0.33 EPS and FY2021 earnings at $1.26 EPS.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Horizon Technology Finance from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, March 10th. ValuEngine raised Horizon Technology Finance from a “sell” rating to a “hold” rating in a research note on Thursday. Maxim Group reaffirmed a “buy” rating and issued a $13.50 price objective on shares of Horizon Technology Finance in a research note on Thursday, March 5th. Compass Point upgraded Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $10.50 target price for the company in a report on Friday, February 28th. Finally, Aegis raised Horizon Technology Finance from a “hold” rating to a “buy” rating and set a $13.20 target price on the stock in a research report on Wednesday, March 4th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $11.78.
Shares of NASDAQ HRZN opened at $9.34 on Thursday. Horizon Technology Finance has a 12-month low of $4.51 and a 12-month high of $13.78. The firm’s 50-day moving average price is $11.34 and its 200-day moving average price is $12.15. The stock has a market capitalization of $109.30 million, a price-to-earnings ratio of 6.53 and a beta of 0.79.
Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings data on Tuesday, March 3rd. The investment management company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. Horizon Technology Finance had a net margin of 45.21% and a return on equity of 12.30%. The business had revenue of $12.98 million during the quarter, compared to analysts’ expectations of $10.15 million.
A number of hedge funds have recently added to or reduced their stakes in HRZN. Millennium Management LLC bought a new stake in Horizon Technology Finance during the 3rd quarter valued at about $127,000. Eqis Capital Management Inc. boosted its position in Horizon Technology Finance by 8.7% in the 4th quarter. Eqis Capital Management Inc. now owns 15,691 shares of the investment management company’s stock valued at $203,000 after buying an additional 1,258 shares during the period. California Public Employees Retirement System grew its stake in Horizon Technology Finance by 8.8% in the 4th quarter. California Public Employees Retirement System now owns 21,000 shares of the investment management company’s stock worth $272,000 after acquiring an additional 1,700 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in Horizon Technology Finance by 6.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,161 shares of the investment management company’s stock worth $208,000 after acquiring an additional 961 shares in the last quarter. Finally, Raymond James & Associates purchased a new position in shares of Horizon Technology Finance during the fourth quarter worth approximately $133,000. Institutional investors and hedge funds own 10.66% of the company’s stock.
In related news, Director Joseph J. Savage purchased 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average price of $7.02 per share, for a total transaction of $56,160.00. Also, CEO Robert D. Jr. Pomeroy purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $10.75 per share, for a total transaction of $43,000.00. Following the acquisition, the chief executive officer now directly owns 102,498 shares in the company, valued at approximately $1,101,853.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 20,421 shares of company stock worth $162,240 in the last 90 days. 1.50% of the stock is currently owned by insiders.
The business also recently declared a monthly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, May 19th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.20 annualized dividend and a yield of 12.85%. Horizon Technology Finance’s payout ratio is presently 78.95%.
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, and cleantech industries.
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