Horizon Technology Finance (NASDAQ:HRZN) Issues Quarterly 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 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03), Zacks reports. Horizon Technology Finance had a positive return on equity of 17.39% and a negative net margin of 21.19%. The business had revenue of $24.56 million for the quarter, compared to the consensus estimate of $25.38 million. During the same period last year, the firm earned $0.53 earnings per share.

Horizon Technology Finance Stock Performance

HRZN traded down $0.32 on Wednesday, reaching $9.69. The company had a trading volume of 1,134,674 shares, compared to its average volume of 285,284. Horizon Technology Finance has a fifty-two week low of $9.30 and a fifty-two week high of $13.73. The stock has a market cap of $339.35 million, a P/E ratio of -23.07 and a beta of 1.23. The company’s fifty day moving average is $10.67 and its 200 day moving average is $11.38.

Horizon Technology Finance Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on HRZN. B. Riley reissued a “sell” rating and set a $9.00 price target (down from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st. Keefe, Bruyette & Woods lowered 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 note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, Horizon Technology Finance presently has a consensus rating of “Hold” and an average price target 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.