Short Interest in Horizon Technology Finance Co. (NASDAQ:HRZN) Declines By 14.8%

Horizon Technology Finance Co. (NASDAQ:HRZN) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 646,700 shares, a decrease of 14.8% from the August 15th total of 759,200 shares. Based on an average daily trading volume, of 240,600 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.8% of the shares of the stock are sold short.

Institutional Trading of Horizon Technology Finance

Several large investors have recently added to or reduced their stakes in the stock. Connecticut Wealth Management LLC purchased a new stake in shares of Horizon Technology Finance in the 1st quarter worth about $2,393,000. First Financial Bank Trust Division purchased a new stake in Horizon Technology Finance in the second quarter worth about $520,000. Green Alpha Advisors LLC boosted its position 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 valued at $2,603,000 after acquiring an additional 29,956 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Horizon Technology Finance during the 1st quarter worth approximately $257,000. Finally, Paloma Partners Management Co purchased a new position in shares of Horizon Technology Finance in the 1st quarter valued at approximately $209,000. Institutional investors own 4.94% of the company’s stock.

Horizon Technology Finance Stock Performance

Shares of NASDAQ HRZN traded down $0.06 during mid-day trading on Wednesday, hitting $10.90. The stock had a trading volume of 270,472 shares, compared to its average volume of 262,024. The business has a 50 day moving average price of $11.48 and a two-hundred day moving average price of $11.59. Horizon Technology Finance has a 1 year low of $10.51 and a 1 year high of $13.73. The firm has a market cap of $381.73 million, a P/E ratio of -25.93 and a beta of 1.23.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Horizon Technology Finance had a positive return on equity of 17.39% and a negative net margin of 21.19%. The business had revenue of $25.68 million during the quarter, compared to analyst estimates of $26.74 million. During the same quarter in the prior year, the company posted $0.54 EPS. Equities research analysts predict that Horizon Technology Finance will post 1.23 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 17th will be paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 12.11%. The ex-dividend date is Thursday, October 17th. Horizon Technology Finance’s payout ratio is -314.29%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HRZN shares. Keefe, Bruyette & Woods lowered their price objective on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. B. Riley reissued a “sell” rating and issued a $9.00 price target (down from $10.00) on shares of Horizon Technology Finance in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $9.70.

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.