Horizon Technology Finance Co. (NASDAQ:HRZN) Plans Monthly Dividend of $0.11

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Friday, March 7th, Wall Street Journal reports. Shareholders of record on Friday, May 16th will be given a dividend of 0.11 per share by the investment management company on Friday, June 13th. This represents a $1.32 annualized dividend and a yield of 14.24%. The ex-dividend date of this dividend is Friday, May 16th.

Horizon Technology Finance has increased its dividend by an average of 3.2% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 111.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Horizon Technology Finance to earn $1.26 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 104.8%.

Horizon Technology Finance Stock Up 5.2 %

HRZN stock opened at $9.27 on Friday. Horizon Technology Finance has a 52-week low of $8.46 and a 52-week high of $12.63. The stock’s fifty day simple moving average is $9.39 and its 200-day simple moving average is $9.80. The stock has a market capitalization of $373.72 million, a price-to-earnings ratio of -77.25 and a beta of 1.18.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, March 4th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. The business had revenue of $23.55 million for the quarter, compared to analyst estimates of $25.69 million. As a group, analysts anticipate that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on HRZN. StockNews.com cut Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Compass Point upgraded Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price on the stock in a report on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods reduced their target price on Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating on the stock in a report on Friday. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $8.94.

Insiders Place Their Bets

In related news, Director Michael Balkin acquired 20,000 shares of Horizon Technology Finance stock in a transaction on Monday, December 16th. The shares were bought at an average price of $8.53 per share, for a total transaction of $170,600.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $170,600. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.34% of the stock is currently owned by insiders.

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.