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

Horizon Technology Finance (NASDAQ:HRZN) announced its earnings results on Tuesday. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03), Zacks reports. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The firm had revenue of $24.56 million during the quarter, compared to analysts’ expectations of $25.38 million. During the same period in the prior year, the company posted $0.53 EPS.

Horizon Technology Finance Trading Down 1.2 %

Shares of Horizon Technology Finance stock traded down $0.12 on Friday, hitting $9.53. 307,047 shares of the company traded hands, compared to its average volume of 285,812. Horizon Technology Finance has a 52 week low of $9.30 and a 52 week high of $13.73. The company has a market cap of $362.71 million, a PE ratio of -80.42 and a beta of 1.23. The stock’s 50 day moving average price is $10.64 and its 200-day moving average price is $11.37.

Horizon Technology Finance Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be paid a $0.11 dividend. The ex-dividend date is Thursday, January 16th. This represents a $1.32 dividend on an annualized basis and a yield of 13.85%. Horizon Technology Finance’s dividend payout ratio is currently -1,100.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HRZN shares. Keefe, Bruyette & Woods reduced their price objective on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. 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 research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from 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.