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

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Thursday, March 6th, Wall Street Journal reports. Stockholders of record on Friday, May 16th will be paid a dividend of 0.11 per share by the investment management company on Friday, June 13th. This represents a $1.32 annualized dividend and a dividend yield of 14.96%. The ex-dividend date is Friday, May 16th.

Horizon Technology Finance has raised its dividend payment by an average of 3.2% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 111.9% 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 Stock Up 2.0 %

Horizon Technology Finance stock traded up $0.17 during mid-day trading on Thursday, hitting $8.82. 369,380 shares of the company’s stock were exchanged, compared to its average volume of 342,547. Horizon Technology Finance has a fifty-two week low of $8.46 and a fifty-two week high of $12.63. The firm has a market capitalization of $351.87 million, a P/E ratio of -73.53 and a beta of 1.22. The company’s 50 day simple moving average is $9.39 and its 200-day simple moving average is $9.83.

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

Insiders Place Their Bets

In other Horizon Technology Finance news, Director Michael Balkin purchased 20,000 shares of the stock in a transaction on Monday, December 16th. The shares were purchased at an average price of $8.53 per share, with a total value of $170,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $170,600. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HRZN. StockNews.com cut Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price for the company in a report on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $9.19.

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.