Why Shares of Horizon Technology Finance Are Falling Today
Shares of the specialty finance lender Horizon Technology Finance (NASDAQ: HRZN) traded more than 10% lower in the late morning today after the company reported disappointing earnings for the fourth quarter and full year of 2020.
Horizon Technology Finance, which makes secured loans to venture-backed companies in the tech and biotech spaces, reported net investment income of $0.21 per share in the fourth quarter of 2020.
That's down by more than 50% from the fourth quarter of 2019 and missed the analysts' consensus estimate of $0.28 per share. Total revenue in the quarter was roughly $10.1 million, which also fell short of analysts' expectations.
Source Fool.com
