Horizon Technology Finance Co. (NASDAQ:HRZN) Short Interest Update

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

Wall Street Analysts Forecast Growth

HRZN has been the topic of several research reports. Keefe, Bruyette & Woods decreased their target price on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. B. Riley restated a “sell” rating and issued a $9.00 target price (down previously from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, Horizon Technology Finance presently has a consensus rating of “Reduce” and an average price target of $9.70.

Horizon Technology Finance Price Performance

Horizon Technology Finance stock traded down $0.10 during trading on Monday, reaching $10.90. 517,602 shares of the company were exchanged, compared to its average volume of 260,934. Horizon Technology Finance has a 52-week low of $10.51 and a 52-week high of $13.73. The company has a market capitalization of $381.73 million, a P/E ratio of -26.10 and a beta of 1.23. The stock’s 50 day simple moving average is $11.53 and its two-hundred day simple moving average is $11.61.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.36 EPS for the quarter, topping 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 firm had revenue of $25.68 million for the quarter, compared to the consensus estimate of $26.74 million. During the same quarter last year, the business posted $0.54 earnings per share. As a group, equities analysts forecast that Horizon Technology Finance will post 1.23 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, September 16th. This represents a $1.32 annualized dividend and a yield of 12.11%. Horizon Technology Finance’s dividend payout ratio (DPR) is -314.29%.

Institutional Investors Weigh In On Horizon Technology Finance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creekmur Asset Management LLC acquired a new stake in Horizon Technology Finance during the fourth quarter worth $52,000. Cape Investment Advisory Inc. acquired a new stake in shares of Horizon Technology Finance in the fourth quarter valued at $56,000. International Assets Investment Management LLC acquired a new stake in shares of Horizon Technology Finance in the second quarter valued at $66,000. Capstone Investment Advisors LLC acquired a new stake in shares of Horizon Technology Finance in the fourth quarter valued at $132,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Horizon Technology Finance in the fourth quarter valued at $134,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

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.