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

Horizon Technology Finance Co. (NASDAQ:HRZN) saw a significant drop in short interest during the month of 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. Based on an average daily trading volume, of 240,600 shares, the days-to-cover ratio is presently 2.7 days. Approximately 1.8% of the company’s stock are short sold.

Institutional Trading of Horizon Technology Finance

Several institutional investors have recently bought and sold shares of the business. ETF Store Inc. grew its holdings in Horizon Technology Finance by 4.4% in the second quarter. ETF Store Inc. now owns 50,942 shares of the investment management company’s stock valued at $613,000 after purchasing an additional 2,136 shares during the period. Commonwealth Equity Services LLC grew its holdings in Horizon Technology Finance by 4.9% in the second quarter. Commonwealth Equity Services LLC now owns 23,776 shares of the investment management company’s stock valued at $286,000 after purchasing an additional 1,113 shares during the period. International Assets Investment Management LLC acquired a new stake in Horizon Technology Finance in the second quarter valued at approximately $66,000. First Financial Bank Trust Division acquired a new stake in Horizon Technology Finance in the second quarter valued at approximately $520,000. Finally, Virtu Financial LLC purchased a new position in shares of Horizon Technology Finance in the first quarter valued at approximately $257,000. 4.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price objective on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. B. Riley reissued a “sell” rating and issued a $9.00 price objective (down from $10.00) on shares of Horizon Technology Finance in a report on Thursday, August 1st. Four 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.com, Horizon Technology Finance presently has an average rating of “Reduce” and a consensus target price of $9.70.

Horizon Technology Finance Stock Performance

Horizon Technology Finance stock traded down $0.10 during midday trading on Monday, hitting $10.90. 517,602 shares of the company were exchanged, compared to its average volume of 260,934. The firm has a market capitalization of $381.73 million, a PE ratio of -26.10 and a beta of 1.23. Horizon Technology Finance has a fifty-two week low of $10.51 and a fifty-two week high of $13.73. The business has a fifty day simple moving average of $11.53 and a two-hundred day simple moving average of $11.61.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, July 30th. The investment management company reported $0.36 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $26.74 million. During the same period last year, the company earned $0.54 earnings per share. As a group, equities analysts expect that Horizon Technology Finance will post 1.23 earnings per share for the current year.

Horizon Technology Finance Dividend Announcement

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

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.