Horizon Technology Finance Co. (NASDAQ:HRZN) Sees Significant Increase in Short Interest

Horizon Technology Finance Co. (NASDAQ:HRZN) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 984,600 shares, an increase of 15.5% from the October 31st total of 852,400 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average daily volume of 411,900 shares, the days-to-cover ratio is presently 2.4 days.

Horizon Technology Finance Stock Performance

HRZN remained flat at $9.34 during trading hours on Monday. The company had a trading volume of 527,047 shares, compared to its average volume of 304,425. The firm’s 50-day simple moving average is $9.94 and its two-hundred day simple moving average is $11.02. Horizon Technology Finance has a 52 week low of $9.07 and a 52 week high of $13.73. The stock has a market capitalization of $355.48 million, a PE ratio of -77.67 and a beta of 1.24.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, October 29th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $24.56 million during the quarter, compared to analysts’ expectations of $25.38 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. During the same period last year, the business posted $0.53 EPS. Analysts predict that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a yield of 14.13%. The ex-dividend date of this dividend is Monday, December 16th. Horizon Technology Finance’s payout ratio is presently -1,100.00%.

Insider Activity

In other news, President Gerald A. Michaud acquired 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $9.31 per share, with a total value of $74,480.00. Following the acquisition, the president now owns 169,309 shares in the company, valued at $1,576,266.79. The trade was a 4.96 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in shares of Horizon Technology Finance during the second quarter worth about $66,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of Horizon Technology Finance by 17.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 32,204 shares of the investment management company’s stock worth $367,000 after purchasing an additional 4,795 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Horizon Technology Finance during the first quarter worth about $257,000. Commonwealth Equity Services LLC grew its holdings in shares of Horizon Technology Finance by 4.9% during the second quarter. Commonwealth Equity Services LLC now owns 23,776 shares of the investment management company’s stock worth $286,000 after purchasing an additional 1,113 shares in the last quarter. Finally, ETF Store Inc. grew its holdings in shares of Horizon Technology Finance by 4.4% during the second quarter. ETF Store Inc. now owns 50,942 shares of the investment management company’s stock worth $613,000 after purchasing an additional 2,136 shares in the last quarter. Hedge funds and other institutional investors 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.