Zacks Investment Research downgraded shares Horizon Technology Finance (NASDAQ: HRZN – Get Rating) From a hold rating to a strong sell rating in a research note published on Friday, Zacks.com reports.
According to Zacks, “Horizon Technology Finance Corporation is a closed-end investment company that has chosen to be treated as a business development company under the Investment Corporation Act of 1940. The company provides secured loans to development-stage companies in the technology and life sciences, health care information and services, and clean technology industries. It is located Horizon Technology Finance Corporation is headquartered in Farmington, USA.”
Several other analysts have also commented on HRZN. CompassPoint upgraded shares of Horizon Technology Finance from a sell rating to a neutral rating in a report on Wednesday. StockNews.com began covering shares of Horizon Technology Finance in a research report on Thursday, March 31st. They set a sell rating for the company. Two equities research analysts have rated the stock with a sell rating and two have given the stock a hold rating. According to MarketBeat.com, the stock currently has an average Hold rating and an average price target of $16.25.
HRZN traded down $0.24 on Friday, reaching $12.55. The company’s trading volume was 180,673 shares, compared to an average trading volume of 207,355 shares. Horizon Technology Finance recorded a 52-week low of $11.62 and a 52-week high of $19.08. The stock has a fifty-day simple moving average of $13.91 and a 200-day simple moving average of $15.45. The company has a market capitalization of $300.95 million, a price-earnings ratio of 10.12 and a beta of 1.01.
Horizon Technology Finance (NASDAQ: HRZN – Get Rating) released its latest quarterly earnings data on Tuesday, May 3. The investment management firm reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.29 ($0.03). Horizon Technology Finance had a return on equity of 11.32% and a net margin of 41.45%. During the same quarter in the previous year, the company reported earnings of $0.31 per share. On average, analysts expect Horizon Technology Finance to report earnings of 1.24 per share for the current year.
The company also recently announced a monthly dividend that will be paid on Thursday, September 15th. Investors of record on Thursday, August 18th will issue a dividend of $0.10. This represents an annual return of $1.20 and a return of 9.56%. The date of exclusion from these earnings is Wednesday, August 17th. Horizon Technology Finance’s dividend payout ratio is currently 96.77%.
Several hedge funds have recently modified their holdings of HRZN. Marshall Wace North America LP bought a new stake in shares of Horizon Technology Finance during the first quarter valued at $62,000. Morgan Stanley boosted its position in shares of Horizon Technology Finance by 36.5% during the second quarter. Morgan Stanley now owns 35,523 shares of the investment management company’s stock valued at $614,000 after acquiring an additional 9,507 shares during the period. Royal Bank of Canada boosted its position in shares of Horizon Technology Finance by 21.2% during the second quarter. Royal Bank of Canada now owns 5,214 shares of the investment management company’s stock valued at $90,000 after acquiring an additional 913 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Horizon Technology Finance by 25.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 20,166 shares of the investment management company’s stock, valued at $327 000, after acquiring an additional 4,037 shares during the period. Finally, Mackenzie Financial Corp boosted its position in Horizon Technology Finance shares by 15.7% during the third quarter. Mackenzie Financial Corp. now owns 85,925 shares of the investment management company’s stock valued at $1,397,000 after acquiring an additional 11,638 shares during the period. 11.30% of the shares are owned by hedge funds and other institutional investors.
About Horizon Technology Financing (Get Rating)
Horizon Technology Finance Corporation is a business development company that specializes in lending and investing in development stage investments. It focuses on debt-secured investments and project lending for venture capital-backed companies in the technology, life sciences, healthcare information and services, and clean technology industries.
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