Horizon Technology Finance Co. (NASDAQ:HRZN – Get Free Report) announced a monthly dividend on Thursday, October 31st, Wall Street Journal reports. Shareholders of record on Thursday, January 16th will be paid a dividend of 0.11 per share by the investment management company on Friday, February 14th. This represents a $1.32 dividend on an annualized basis and a yield of 13.68%. The ex-dividend date of this dividend is Thursday, January 16th.
Horizon Technology Finance has raised its dividend payment by an average of 3.2% annually over the last three years. Horizon Technology Finance has a payout ratio of 99.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Horizon Technology Finance to earn $1.31 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 100.8%.
Horizon Technology Finance Stock Performance
Shares of NASDAQ HRZN traded down $0.04 during mid-day trading on Thursday, reaching $9.65. The company had a trading volume of 364,698 shares, compared to its average volume of 285,675. The stock has a fifty day moving average of $10.67 and a two-hundred day moving average of $11.38. Horizon Technology Finance has a 12-month low of $9.30 and a 12-month high of $13.73. The company has a market capitalization of $337.95 million, a price-to-earnings ratio of -23.07 and a beta of 1.23.
Analyst Ratings Changes
Several research analysts have weighed in on the company. B. Riley reaffirmed a “sell” rating and issued a $9.00 target price (down from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st. Keefe, Bruyette & Woods cut 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. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.63.
View Our Latest Analysis on Horizon Technology Finance
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.
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