Wells Fargo & Co cut shares of Horizon Technology Finance (NASDAQ:HRZN) from a market perform rating to an underperform rating in a research report released on Tuesday morning, Marketbeat.com reports.
Several other equities analysts have also issued reports on the company. Raymond James Financial upgraded Horizon Technology Finance from an underperform rating to a market perform rating in a research report on Thursday, November 2nd. National Securities restated a sell rating and set a $10.00 target price on shares of Horizon Technology Finance in a research report on Thursday, November 2nd. Zacks Investment Research upgraded Horizon Technology Finance from a sell rating to a hold rating in a research report on Friday, November 3rd. TheStreet upgraded Horizon Technology Finance from a c rating to a b- rating in a research report on Wednesday, November 1st. Finally, ValuEngine upgraded Horizon Technology Finance from a hold rating to a buy rating in a research report on Saturday, November 4th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Horizon Technology Finance currently has an average rating of Hold and an average target price of $10.75.
Horizon Technology Finance (NASDAQ HRZN) traded up $0.35 during trading on Tuesday, hitting $11.52. The stock had a trading volume of 64,739 shares, compared to its average volume of 66,433. The firm has a market cap of $128.66, a price-to-earnings ratio of 20.21 and a beta of 0.85. Horizon Technology Finance has a 52 week low of $9.66 and a 52 week high of $11.81.
Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, October 31st. The investment management company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.04. The company had revenue of $6.77 million during the quarter, compared to analyst estimates of $6.39 million. Horizon Technology Finance had a return on equity of 9.96% and a net margin of 24.46%. sell-side analysts anticipate that Horizon Technology Finance will post 1.12 earnings per share for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, January 22nd will be given a $0.10 dividend. The ex-dividend date is Friday, January 19th. This represents a $1.20 annualized dividend and a dividend yield of 10.42%. Horizon Technology Finance’s dividend payout ratio is presently 210.53%.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its position in shares of Horizon Technology Finance by 25.8% in the 2nd quarter. Royal Bank of Canada now owns 20,752 shares of the investment management company’s stock valued at $235,000 after purchasing an additional 4,252 shares during the period. WFG Advisors LP grew its position in shares of Horizon Technology Finance by 30.8% in the 2nd quarter. WFG Advisors LP now owns 24,950 shares of the investment management company’s stock valued at $283,000 after purchasing an additional 5,878 shares during the period. Investment Centers of America Inc. acquired a new position in shares of Horizon Technology Finance in the 2nd quarter valued at approximately $136,000. Shelton Capital Management acquired a new position in shares of Horizon Technology Finance in the 3rd quarter valued at approximately $244,000. Finally, Advisors Asset Management Inc. grew its position in shares of Horizon Technology Finance by 8.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 349,600 shares of the investment management company’s stock valued at $3,884,000 after purchasing an additional 27,218 shares during the period. Institutional investors and hedge funds own 17.05% of the company’s stock.
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About Horizon Technology Finance
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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