Short Interest in Horizon Technology Finance Co. (NASDAQ:HRZN) Drops By 17.1%

Horizon Technology Finance Co. (NASDAQ:HRZN) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 494,500 shares, a drop of 17.1% from the June 15th total of 596,600 shares. Based on an average daily volume of 229,400 shares, the short-interest ratio is presently 2.2 days. Currently, 1.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Horizon Technology Finance

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Connecticut Wealth Management LLC acquired a new position in Horizon Technology Finance during the first quarter worth $2,393,000. International Assets Investment Management LLC acquired a new position in Horizon Technology Finance during the fourth quarter worth $954,000. First Financial Bank Trust Division acquired a new position in Horizon Technology Finance during the second quarter worth $520,000. Green Alpha Advisors LLC boosted its stake in Horizon Technology Finance by 15.1% during the first quarter. Green Alpha Advisors LLC now owns 228,943 shares of the investment management company’s stock worth $2,603,000 after buying an additional 29,956 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Horizon Technology Finance during the first quarter worth $257,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Horizon Technology Finance Trading Up 0.3 %

HRZN traded up $0.04 on Friday, hitting $12.50. 193,340 shares of the company’s stock were exchanged, compared to its average volume of 178,298. Horizon Technology Finance has a fifty-two week low of $10.75 and a fifty-two week high of $13.73. The stock has a market cap of $437.75 million, a price-to-earnings ratio of -29.76 and a beta of 1.24. The firm has a 50-day moving average price of $11.87 and a 200-day moving average price of $12.16.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings results on Tuesday, April 30th. The investment management company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Horizon Technology Finance had a negative net margin of 12.40% and a positive return on equity of 17.98%. The firm had revenue of $26.13 million for the quarter, compared to analyst estimates of $26.83 million. On average, equities analysts predict that Horizon Technology Finance will post 1.48 EPS for the current year.

Horizon Technology Finance Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 17th will be given a $0.11 dividend. The ex-dividend date is Wednesday, July 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.56%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -314.28%.

Wall Street Analyst Weigh In

Separately, UBS Group cut their target price on shares of Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating for the company in a research note on Monday, March 18th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.38.

About Horizon Technology Finance

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.