Horizon Technology Finance Corporation (NASDAQ:HRZN) Short Interest Update

Horizon Technology Finance Corporation (NASDAQ:HRZN) was the target of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 1,180,000 shares, a drop of 25.8% from the May 15th total of 1,590,000 shares. Currently, 3.0% of the company’s shares are short sold. Based on an average daily volume of 466,200 shares, the short-interest ratio is presently 2.5 days.

Horizon Technology Finance Stock Up 0.7%

NASDAQ:HRZN opened at $7.36 on Wednesday. Horizon Technology Finance has a twelve month low of $7.12 and a twelve month high of $12.63. The company has a fifty day moving average of $7.76 and a 200-day moving average of $8.73. The firm has a market capitalization of $296.98 million, a P/E ratio of -8.09 and a beta of 1.01.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings results on Tuesday, April 29th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.06). The company had revenue of $24.52 million during the quarter, compared to the consensus estimate of $26.67 million. Horizon Technology Finance had a negative net margin of 36.34% and a positive return on equity of 13.98%. On average, analysts anticipate that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 17th will be paid a dividend of $0.11 per share. This represents a yield of 18.06%. The ex-dividend date of this dividend is Monday, June 16th. Horizon Technology Finance’s dividend payout ratio (DPR) is currently -145.05%.

Institutional Investors Weigh In On Horizon Technology Finance

Hedge funds have recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC acquired a new position in shares of Horizon Technology Finance during the first quarter worth approximately $36,000. Crew Capital Management Ltd. bought a new stake in Horizon Technology Finance during the 4th quarter valued at $99,000. Quantbot Technologies LP raised its holdings in Horizon Technology Finance by 43.0% during the fourth quarter. Quantbot Technologies LP now owns 13,290 shares of the investment management company’s stock worth $119,000 after buying an additional 3,996 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Horizon Technology Finance in the fourth quarter valued at $124,000. Finally, Aigen Investment Management LP acquired a new position in shares of Horizon Technology Finance during the fourth quarter valued at about $133,000. Institutional investors and hedge funds own 4.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on HRZN. UBS Group reduced their price target on Horizon Technology Finance from $9.00 to $8.25 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their target price on shares of Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating for the company in a research report on Tuesday, April 8th. Compass Point downgraded shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $6.50 price target on the stock. in a research report on Wednesday, April 30th. B. Riley assumed coverage on shares of Horizon Technology Finance in a research note on Tuesday, May 13th. They issued a “neutral” rating and a $7.00 price objective on the stock. Finally, Maxim Group lowered their target price on shares of Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Horizon Technology Finance currently has an average rating of “Hold” and an average price target of $8.45.

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.