Horizon Technology Finance (NASDAQ:HRZN) Stock Crosses Above 200 Day Moving Average – What’s Next?

Horizon Technology Finance Corporation (NASDAQ:HRZN)’s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $4.47 and traded as high as $4.63. Horizon Technology Finance shares last traded at $4.59, with a volume of 356,764 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on HRZN shares. Oppenheimer reduced their price objective on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Friday, August 7th. Keefe, Bruyette & Woods lowered their target price on Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating on the stock in a research report on Friday, August 21st. Compass Point assumed coverage on Horizon Technology Finance in a report on Thursday, August 27th. They set a “buy” rating and a $5.50 price target for the company. Weiss Ratings cut Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 19th. Finally, UBS Group raised their price objective on Horizon Technology Finance from $4.25 to $4.50 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Horizon Technology Finance presently has an average rating of “Hold” and an average target price of $5.00.

Horizon Technology Finance Trading Up 0.9%

The company has a market cap of $310.35 million, a PE ratio of 12.86 and a beta of 0.99. The business’s 50 day moving average is $4.70 and its two-hundred day moving average is $4.47.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, August 4th. The investment management company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%.The business had revenue of $25.05 million during the quarter, compared to analysts’ expectations of $25.22 million. As a group, equities research analysts predict that Horizon Technology Finance Corporation will post 0.63 EPS for the current fiscal year.

Horizon Technology Finance Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, November 17th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 15.6%. The ex-dividend date of this dividend is Tuesday, November 17th. Horizon Technology Finance’s dividend payout ratio (DPR) is 200.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRZN. Green Alpha Advisors LLC purchased a new stake in Horizon Technology Finance during the 2nd quarter valued at approximately $2,033,000. Legal & General Group Plc purchased a new position in Horizon Technology Finance during the second quarter valued at $1,821,000. Bank of America Corp DE bought a new stake in Horizon Technology Finance in the 2nd quarter valued at $1,068,000. BlackRock Inc. purchased a new stake in Horizon Technology Finance in the 2nd quarter worth $856,000. Finally, Corient Private Wealth LP purchased a new stake in Horizon Technology Finance in the 2nd quarter worth $423,000. 4.94% of the stock is currently owned by institutional investors.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a specialty finance company that operates as a business development company. It provides secured venture loans and other forms of debt financing to emerging-growth companies backed by venture capital or private equity investors.

The company primarily serves businesses in the technology, life sciences, healthcare information technology, and sustainability sectors. Its financing solutions may support product development, capital expenditures, acquisitions, working capital, and other corporate needs.