Horizon Technology Finance Co. (NASDAQ:HRZN) Forecasted to Post Q2 2024 Earnings of $0.30 Per Share

Horizon Technology Finance Co. (NASDAQ:HRZN) – B. Riley lowered their Q2 2024 earnings estimates for Horizon Technology Finance in a note issued to investors on Thursday, May 2nd. B. Riley analyst B. Rowe now forecasts that the investment management company will post earnings per share of $0.30 for the quarter, down from their prior estimate of $0.33. B. Riley currently has a “Sell” rating and a $11.00 target price on the stock. The consensus estimate for Horizon Technology Finance’s current full-year earnings is $1.50 per share. B. Riley also issued estimates for Horizon Technology Finance’s Q4 2024 earnings at $0.33 EPS and FY2024 earnings at $1.40 EPS.

Several other equities analysts also recently weighed in on HRZN. LADENBURG THALM/SH SH reissued a “neutral” rating on shares of Horizon Technology Finance in a research report on Wednesday, February 28th. UBS Group dropped their price objective on Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating for the company in a report on Monday, March 18th. Finally, Oppenheimer cut their price target on shares of Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, March 1st. Three 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, Horizon Technology Finance has a consensus rating of “Hold” and an average target price of $10.38.

Horizon Technology Finance Price Performance

Horizon Technology Finance stock opened at $11.81 on Friday. Horizon Technology Finance has a 12 month low of $10.75 and a 12 month high of $13.73. The stock has a market capitalization of $413.59 million, a PE ratio of -28.12 and a beta of 1.19. The business has a 50 day simple moving average of $11.56 and a 200-day simple moving average of $12.29.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings results on Tuesday, February 27th. The investment management company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The company had revenue of $28.18 million for the quarter, compared to analysts’ expectations of $29.21 million. Horizon Technology Finance had a positive return on equity of 17.98% and a negative net margin of 12.40%.

Horizon Technology Finance Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 17th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $1.32 dividend on an annualized basis and a yield of 11.18%. Horizon Technology Finance’s payout ratio is currently -314.28%.

Insider Activity at Horizon Technology Finance

In related news, President Gerald A. Michaud acquired 3,650 shares of Horizon Technology Finance stock in a transaction on Friday, March 8th. The shares were purchased at an average cost of $11.77 per share, for a total transaction of $42,960.50. Following the purchase, the president now directly owns 156,244 shares of the company’s stock, valued at approximately $1,838,991.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Horizon Technology Finance

A number of institutional investors have recently made changes to their positions in HRZN. Green Alpha Advisors LLC boosted its stake in Horizon Technology Finance by 15.1% in the first quarter. Green Alpha Advisors LLC now owns 228,943 shares of the investment management company’s stock valued at $2,603,000 after acquiring an additional 29,956 shares during the period. Connecticut Wealth Management LLC bought a new position in shares of Horizon Technology Finance during the 1st quarter valued at about $2,393,000. International Assets Investment Management LLC acquired a new position in shares of Horizon Technology Finance in the 4th quarter worth approximately $954,000. PNC Financial Services Group Inc. bought a new stake in shares of Horizon Technology Finance in the 3rd quarter worth approximately $755,000. Finally, Virtus ETF Advisers LLC lifted its stake in Horizon Technology Finance by 136.4% during the third quarter. Virtus ETF Advisers LLC now owns 57,835 shares of the investment management company’s stock valued at $687,000 after purchasing an additional 33,367 shares during the last quarter. 4.94% of the stock is currently owned by institutional investors.

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.