Horizon Technology Finance Corp (NASDAQ:HRZN) declared a dividend on Friday, July 26th, NASDAQ reports. Stockholders of record on Thursday, September 19th will be paid a dividend of 0.10 per share by the investment management company on Wednesday, October 16th. The ex-dividend date of this dividend is Wednesday, September 18th.
Horizon Technology Finance has decreased its dividend payment by an average of 4.6% annually over the last three years. Horizon Technology Finance has a payout ratio of 105.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of Horizon Technology Finance stock opened at $11.91 on Tuesday. Horizon Technology Finance has a 52 week low of $10.05 and a 52 week high of $13.48. The business’s fifty day simple moving average is $11.98 and its 200-day simple moving average is $12.00. The firm has a market cap of $161.04 million, a PE ratio of 9.22 and a beta of 0.69.
Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.07. Horizon Technology Finance had a return on equity of 11.02% and a net margin of 42.51%. The business had revenue of $10.47 million for the quarter.
In other news, CEO Robert D. Jr. Pomeroy acquired 5,575 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $12.14 per share, for a total transaction of $67,680.50. Following the acquisition, the chief executive officer now owns 93,225 shares of the company’s stock, valued at $1,131,751.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Gerald A. Michaud acquired 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $12.00 per share, for a total transaction of $42,000.00. Following the acquisition, the president now directly owns 77,128 shares in the company, valued at approximately $925,536. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.
Several equities analysts have recently commented on the company. Maxim Group reaffirmed a “buy” rating and issued a $13.00 price target on shares of Horizon Technology Finance in a research note on Tuesday, August 6th. ValuEngine downgraded Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.75.
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, and cleantech industries.
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