Horizon Technology Finance Co. (NASDAQ:HRZN) Expected to Earn Q3 2024 Earnings of $0.38 Per Share

Horizon Technology Finance Co. (NASDAQ:HRZN) – Equities research analysts at B. Riley dropped their Q3 2024 earnings estimates for Horizon Technology Finance in a report issued on Thursday, May 2nd. B. Riley analyst B. Rowe now anticipates that the investment management company will post earnings of $0.38 per share for the quarter, down from their previous estimate of $0.41. The consensus estimate for Horizon Technology Finance’s current full-year earnings is $1.50 per share.

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

Several other analysts also recently issued reports on HRZN. UBS Group reduced their price target on shares of Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating for the company in a research report on Monday, March 18th. Oppenheimer reduced their price objective on shares of Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Friday, March 1st. Finally, LADENBURG THALM/SH SH restated a “neutral” rating on shares of Horizon Technology Finance in a report on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.38.

Horizon Technology Finance Stock Up 0.1 %

NASDAQ HRZN opened at $11.78 on Monday. Horizon Technology Finance has a 52 week low of $10.75 and a 52 week high of $13.73. The business has a 50 day moving average price of $11.51 and a 200-day moving average price of $12.30. The company has a market cap of $412.54 million, a price-to-earnings ratio of -28.05 and a beta of 1.19.

Horizon Technology Finance Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 16th will be given a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 11.21%. The ex-dividend date of this dividend is Friday, August 16th. Horizon Technology Finance’s payout ratio is -314.28%.

Insider Buying and Selling at Horizon Technology Finance

In other Horizon Technology Finance news, President Gerald A. Michaud bought 3,650 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average price 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 $1,838,991.88. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Horizon Technology Finance

Hedge funds have recently made changes to their positions in the business. Green Alpha Advisors LLC grew its position in Horizon Technology Finance by 15.1% during 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 buying 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 approximately $2,393,000. International Assets Investment Management LLC purchased a new stake in shares of Horizon Technology Finance during 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% in 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.

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.