Horizon Technology Finance Corporation (HRZN) Issues Quarterly Earnings Results

Horizon Technology Finance Corporation (NASDAQ:HRZN) posted its quarterly earnings results on Tuesday, August 1st. The investment management company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by $0.03, Bloomberg Earnings reports. The business had revenue of $5.88 million during the quarter, compared to the consensus estimate of $6.71 million. Horizon Technology Finance Corporation had a positive return on equity of 10.24% and a negative net margin of 6.72%. The business’s revenue for the quarter was down 35.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share.

Shares of Horizon Technology Finance Corporation (HRZN) traded down 0.47% during trading on Friday, hitting $10.52. 52,672 shares of the company traded hands. The company has a 50 day moving average price of $11.27 and a 200 day moving average price of $11.23. Horizon Technology Finance Corporation has a 52 week low of $9.64 and a 52 week high of $13.93.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, October 19th will be given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.41%. The ex-dividend date of this dividend is Wednesday, October 18th. Horizon Technology Finance Corporation’s payout ratio is -749.95%.

Several hedge funds have recently modified their holdings of the company. Investment Centers of America Inc. acquired a new stake in shares of Horizon Technology Finance Corporation during the second quarter valued at about $136,000. Founders Financial Securities LLC raised its stake in Horizon Technology Finance Corporation by 25.8% in the first quarter. Founders Financial Securities LLC now owns 12,646 shares of the investment management company’s stock worth $141,000 after buying an additional 2,591 shares during the last quarter. Nwam LLC purchased a new stake in Horizon Technology Finance Corporation during the first quarter worth $174,000. Infrastructure Capital Advisors LLC purchased a new stake in Horizon Technology Finance Corporation during the first quarter worth $184,000. Finally, Wells Fargo & Company MN raised its stake in Horizon Technology Finance Corporation by 2.2% in the first quarter. Wells Fargo & Company MN now owns 65,616 shares of the investment management company’s stock worth $730,000 after buying an additional 1,414 shares during the last quarter. 17.39% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have weighed in on HRZN. UBS AG downgraded shares of Horizon Technology Finance Corporation from a “market perform” rating to an “underperform” rating in a research note on Thursday, August 3rd. Maxim Group restated a “hold” rating on shares of Horizon Technology Finance Corporation in a research report on Wednesday, August 2nd. Raymond James Financial, Inc. restated an “underperform” rating on shares of Horizon Technology Finance Corporation in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of Horizon Technology Finance Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $11.00 price objective on shares of Horizon Technology Finance Corporation in a research report on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.00.

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About Horizon Technology Finance Corporation

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.

Earnings History for Horizon Technology Finance Corporation (NASDAQ:HRZN)

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