Q2 2024 Earnings Estimate for Horizon Technology Finance Co. Issued By B. Riley (NASDAQ:HRZN)

Horizon Technology Finance Co. (NASDAQ:HRZN) – Analysts at B. Riley dropped their Q2 2024 earnings per share (EPS) estimates for Horizon Technology Finance in a research 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.

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

Other equities research analysts have also recently issued reports about the company. LADENBURG THALM/SH SH reissued a “neutral” rating on shares of Horizon Technology Finance in a research note on Wednesday, February 28th. Oppenheimer lowered their price objective on Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, March 1st. Finally, UBS Group cut their target price on shares of Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.38.

Horizon Technology Finance Price Performance

HRZN opened at $11.81 on Friday. The company’s 50 day simple moving average is $11.56 and its 200-day simple moving average is $12.29. Horizon Technology Finance has a one year low of $10.75 and a one year high of $13.73. The stock has a market capitalization of $413.59 million, a P/E ratio of -28.12 and a beta of 1.19.

Institutional Investors Weigh In On Horizon Technology Finance

Several large investors have recently bought and sold shares of HRZN. ETF Store Inc. grew its holdings in shares of Horizon Technology Finance by 7.8% in the 3rd quarter. ETF Store Inc. now owns 42,988 shares of the investment management company’s stock valued at $511,000 after buying an additional 3,114 shares during the period. Jump Financial LLC acquired a new position in Horizon Technology Finance in the third quarter valued at about $175,000. Virtus ETF Advisers LLC increased its holdings in shares of 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 worth $687,000 after acquiring an additional 33,367 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Horizon Technology Finance in the 3rd quarter valued at approximately $755,000. Finally, Quadrature Capital Ltd bought a new stake in Horizon Technology Finance during the 3rd quarter worth approximately $517,000. Institutional investors own 4.94% of the company’s stock.

Insider Transactions at Horizon Technology Finance

In other news, President Gerald A. Michaud purchased 3,650 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average cost of $11.77 per share, for a total transaction of $42,960.50. Following the transaction, the president now directly owns 156,244 shares of the company’s stock, valued at approximately $1,838,991.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.

Horizon Technology Finance Dividend Announcement

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

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.