Horizon Technology Finance Corporation (HRZN) Lifted to Market Perform at Raymond James Financial, Inc.

Raymond James Financial, Inc. upgraded shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) from an underperform rating to a market perform rating in a research report released on Thursday morning, Marketbeat reports.

A number of other analysts also recently commented on HRZN. UBS AG downgraded Horizon Technology Finance Corporation from a market perform rating to an underperform rating in a research note on Thursday, August 3rd. ValuEngine upgraded Horizon Technology Finance Corporation from a hold rating to a buy rating in a research note on Monday, October 2nd. National Securities restated a sell rating and issued a $10.00 target price on shares of Horizon Technology Finance Corporation in a research note on Thursday. Maxim Group restated a hold rating on shares of Horizon Technology Finance Corporation in a research note on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $11.00 target price on shares of Horizon Technology Finance Corporation in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Horizon Technology Finance Corporation currently has a consensus rating of Hold and a consensus price target of $10.75.

Shares of Horizon Technology Finance Corporation (NASDAQ:HRZN) traded down $0.04 during mid-day trading on Thursday, hitting $10.95. The stock had a trading volume of 36,551 shares, compared to its average volume of 53,645. The firm has a market capitalization of $126.12, a price-to-earnings ratio of 9.20, a PEG ratio of 2.00 and a beta of 0.85. Horizon Technology Finance Corporation has a fifty-two week low of $9.64 and a fifty-two week high of $11.75.

Horizon Technology Finance Corporation (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, October 31st. The investment management company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $6.77 million for the quarter, compared to analyst estimates of $6.39 million. Horizon Technology Finance Corporation had a return on equity of 9.96% and a net margin of 24.46%. research analysts predict that Horizon Technology Finance Corporation will post 1.12 earnings per share for the current year.

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The business also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, January 22nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, January 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.96%. Horizon Technology Finance Corporation’s payout ratio is 210.53%.

Hedge funds have recently modified their holdings of the business. Investment Centers of America Inc. purchased a new position in Horizon Technology Finance Corporation during the second quarter worth approximately $136,000. Royal Bank of Canada boosted its position in Horizon Technology Finance Corporation by 25.8% during 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. WFG Advisors LP boosted its position in Horizon Technology Finance Corporation by 30.8% during 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. Wells Fargo & Company MN boosted its position in Horizon Technology Finance Corporation by 2.2% during the first quarter. Wells Fargo & Company MN now owns 65,616 shares of the investment management company’s stock worth $730,000 after purchasing an additional 1,414 shares in the last quarter. Finally, West Family Investments Inc. boosted its position in Horizon Technology Finance Corporation by 49.0% during the second quarter. West Family Investments Inc. now owns 158,628 shares of the investment management company’s stock worth $1,866,000 after purchasing an additional 52,156 shares in the last quarter. Institutional investors own 18.12% of the company’s stock.

Horizon Technology Finance Corporation Company Profile

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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