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

Horizon Technology Finance (NASDAQ:HRZN) announced its quarterly earnings data 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. The firm had revenue of $24.56 million during the quarter, compared to analyst estimates of $25.38 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. During the same quarter last year, the company earned $0.53 EPS.

Horizon Technology Finance Stock Performance

NASDAQ:HRZN traded down $0.12 during trading hours on Friday, hitting $9.53. 353,057 shares of the company’s stock traded hands, compared to its average volume of 285,926. The firm has a market cap of $362.71 million, a P/E ratio of -80.42 and a beta of 1.23. Horizon Technology Finance has a twelve month low of $9.30 and a twelve month high of $13.73. The stock’s fifty day moving average price is $10.64 and its two-hundred 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. Stockholders of record on Thursday, January 16th will be issued a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 13.85%. The ex-dividend date of this dividend is Thursday, January 16th. Horizon Technology Finance’s dividend payout ratio is -1,100.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HRZN. B. Riley reaffirmed a “sell” rating and set a $9.00 target price (down from $10.00) on shares of Horizon Technology Finance in a report on Thursday, August 1st. Keefe, Bruyette & Woods reduced their target price on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.63.

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.