Horizon Technology Finance Co. (NASDAQ:HRZN) to Issue $0.11 Monthly Dividend

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Friday, February 28th, NASDAQ Dividends reports. Investors of record on Monday, March 17th will be given a dividend of 0.11 per share by the investment management company on Tuesday, April 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 14.35%. The ex-dividend date is Monday, March 17th.

Horizon Technology Finance has raised its dividend by an average of 3.2% annually over the last three years. Horizon Technology Finance has a payout ratio of 109.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Trading Up 1.3 %

HRZN stock opened at $9.20 on Friday. The business’s 50 day simple moving average is $9.41 and its 200 day simple moving average is $9.74. The firm has a market capitalization of $370.90 million, a PE ratio of -76.67 and a beta of 1.18. Horizon Technology Finance has a 1-year low of $8.46 and a 1-year high of $12.63.

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 (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). The firm had revenue of $23.55 million during the quarter, compared to the consensus estimate of $25.69 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. As a group, sell-side analysts predict that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Insider Activity

In other Horizon Technology Finance news, Director Michael Balkin acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average cost of $8.53 per share, for a total transaction of $170,600.00. Following 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 legal filing with the SEC, which is available through this link. Corporate insiders own 1.34% of the company’s stock.

Analysts Set New Price Targets

HRZN has been the subject of several recent research reports. StockNews.com downgraded Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Maxim Group reduced their price target on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Compass Point upgraded Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price for the company in a research report on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods cut their target price on Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating for the company in a research report on Friday, March 7th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.75.

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.