Horizon Technology Finance (NASDAQ:HRZN) Releases Earnings Results, Misses Expectations By $0.03 EPS

Horizon Technology Finance (NASDAQ:HRZN) issued its quarterly earnings results on Tuesday. The investment management company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03), Zacks reports. Horizon Technology Finance had a negative net margin of 21.19% and a positive return on equity of 17.39%. The company had revenue of $24.56 million during the quarter, compared to analyst estimates of $25.38 million. During the same period in the prior year, the business earned $0.53 EPS.

Horizon Technology Finance Trading Down 3.2 %

Shares of HRZN stock traded down $0.32 on Wednesday, hitting $9.69. The stock had a trading volume of 1,134,674 shares, compared to its average volume of 285,284. Horizon Technology Finance has a twelve month low of $9.30 and a twelve month high of $13.73. The firm has a market cap of $339.35 million, a P/E ratio of -23.07 and a beta of 1.23. The company has a fifty day moving average price of $10.67 and a two-hundred day moving average price of $11.38.

Horizon Technology Finance Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.11 dividend. This represents a $1.32 annualized dividend and a dividend yield of 13.62%. The ex-dividend date of this dividend is Friday, November 15th. Horizon Technology Finance’s dividend payout ratio (DPR) is -314.29%.

Analysts Set New Price Targets

A number of research firms have commented on HRZN. B. Riley reaffirmed a “sell” rating and set a $9.00 target price (down previously from $10.00) on shares of Horizon Technology Finance in a report on Thursday, August 1st. Keefe, Bruyette & Woods lowered their target price on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.63.

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.