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

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

Horizon Technology Finance Trading Down 3.6 %

HRZN traded down $0.40 during midday trading on Thursday, reaching $10.82. The company’s stock had a trading volume of 533,670 shares, compared to its average volume of 257,092. The stock has a market cap of $390.17 million, a P/E ratio of -26.71 and a beta of 1.24. The company has a fifty day simple moving average of $11.99 and a 200 day simple moving average of $12.03. Horizon Technology Finance has a twelve month low of $10.52 and a twelve month high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. Horizon Technology Finance had a positive return on equity of 17.39% and a negative net margin of 21.19%. The company had revenue of $25.68 million for the quarter, compared to analyst estimates of $26.74 million. During the same quarter last year, the firm earned $0.54 EPS. Sell-side analysts expect 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. Investors of record on Friday, November 15th will be paid a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 12.20%. The ex-dividend date of this dividend is Friday, November 15th. Horizon Technology Finance’s dividend payout ratio is -314.28%.

Institutional Investors Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Horizon Technology Finance in the fourth quarter valued at about $954,000. ETF Store Inc. boosted its position in shares of Horizon Technology Finance by 10.8% during the fourth quarter. ETF Store Inc. now owns 47,648 shares of the investment management company’s stock worth $628,000 after buying an additional 4,660 shares during the period. Astoria Portfolio Advisors LLC. acquired a new position in shares of Horizon Technology Finance during the fourth quarter worth about $223,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Horizon Technology Finance during the fourth quarter worth about $134,000. Finally, Cape Investment Advisory Inc. acquired a new position in shares of Horizon Technology Finance during the fourth quarter worth about $56,000. Institutional investors own 4.94% of the company’s stock.

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.