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

Horizon Technology Finance Co. (NASDAQ:HRZN) – Investment analysts at B. Riley dropped their Q2 2024 earnings per share estimates for shares of Horizon Technology Finance in a research report issued to clients and investors on Thursday, May 2nd. B. Riley analyst B. Rowe now anticipates that the investment management company will post earnings per share of $0.30 for the quarter, down from their previous forecast 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 $1.53 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 issued its quarterly earnings data 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 business had revenue of $28.18 million for the quarter, compared to analyst estimates of $29.21 million. Horizon Technology Finance had a positive return on equity of 17.98% and a negative net margin of 12.40%.

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

Horizon Technology Finance Price Performance

Shares of Horizon Technology Finance stock opened at $11.79 on Friday. Horizon Technology Finance has a 12 month low of $10.75 and a 12 month high of $13.73. The stock’s fifty day simple moving average is $11.61 and its 200 day simple moving average is $12.30.

Institutional Trading of Horizon Technology Finance

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

Insider Activity

In other news, President Gerald A. Michaud purchased 3,650 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of $11.77 per share, for a total transaction of $42,960.50. Following the purchase, the president now owns 156,244 shares of the company’s stock, valued at $1,838,991.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by corporate insiders.

Horizon Technology Finance Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, April 16th. Stockholders of record on Tuesday, March 19th were paid a $0.16 dividend. This represents a dividend yield of 16.48%. This is a boost from Horizon Technology Finance’s previous dividend of $0.11. The ex-dividend date was Monday, March 18th. Horizon Technology Finance’s dividend payout ratio is presently -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.