Keefe, Bruyette & Woods Lowers Horizon Technology Finance (NASDAQ:HRZN) Price Target to $9.00

Horizon Technology Finance (NASDAQ:HRZN) had its target price cut by Keefe, Bruyette & Woods from $9.50 to $9.00 in a research report report published on Thursday, Benzinga reports. They currently have an underperform rating on the investment management company’s stock.

Horizon Technology Finance Trading Down 3.4 %

Horizon Technology Finance stock traded down $0.39 during midday trading on Thursday, reaching $11.22. 439,826 shares of the stock traded hands, compared to its average volume of 234,402. The firm has a fifty day moving average price of $11.99 and a two-hundred day moving average price of $12.04. The firm has a market cap of $404.59 million, a price-to-earnings ratio of -26.71 and a beta of 1.24. Horizon Technology Finance has a fifty-two week low of $10.75 and a fifty-two week high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $25.68 million during the quarter, compared to analyst estimates of $26.74 million. Horizon Technology Finance had a negative net margin of 21.19% and a positive return on equity of 17.39%. During the same period in the prior year, the business posted $0.54 EPS. Analysts anticipate that Horizon Technology Finance will post 1.47 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.76%. The ex-dividend date is Friday, November 15th. Horizon Technology Finance’s dividend payout ratio is currently -314.28%.

Institutional Trading of Horizon Technology Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creekmur Asset Management LLC acquired a new stake in shares of Horizon Technology Finance during the fourth quarter valued at approximately $52,000. Cape Investment Advisory Inc. acquired a new position in Horizon Technology Finance in the 4th quarter valued at approximately $56,000. International Assets Investment Management LLC acquired a new position in Horizon Technology Finance in the 2nd quarter valued at approximately $66,000. Capstone Investment Advisors LLC acquired a new position in Horizon Technology Finance in the 4th quarter valued at approximately $132,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in Horizon Technology Finance in the 4th quarter valued at approximately $134,000. 4.94% of the stock is owned by institutional investors and hedge funds.

About Horizon Technology Finance

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.