Short Interest in Horizon Technology Finance Co. (NASDAQ:HRZN) Increases By 77.5%

Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 1,590,000 shares, a growth of 77.5% from the April 30th total of 895,600 shares. Based on an average trading volume of 487,900 shares, the short-interest ratio is currently 3.3 days. Approximately 4.0% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Compass Point cut 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 report on Wednesday, April 30th. B. Riley assumed coverage on shares of Horizon Technology Finance in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $7.00 target price for the company. Maxim Group decreased 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 report on Monday, March 10th. UBS Group reduced their price objective on shares of Horizon Technology Finance from $9.00 to $8.25 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Horizon Technology Finance from $8.00 to $7.50 and set an "underperform" rating for the company in a research note on Tuesday, April 8th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Horizon Technology Finance presently has an average rating of "Hold" and an average price target of $8.45.

Horizon Technology Finance Stock Performance

Shares of NASDAQ HRZN traded down $0.08 during mid-day trading on Monday, reaching $7.50. The company had a trading volume of 251,091 shares, compared to its average volume of 391,324. The stock has a fifty day moving average of $8.09 and a two-hundred day moving average of $8.87. The company has a market capitalization of $302.46 million, a price-to-earnings ratio of -62.46 and a beta of 1.05. Horizon Technology Finance has a 12-month low of $7.12 and a 12-month high of $12.63.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $24.52 million for the quarter, compared to the consensus estimate of $26.67 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. Sell-side analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 17.61%. The ex-dividend date of this dividend is Monday, June 16th. Horizon Technology Finance's payout ratio is presently -145.05%.

Hedge Funds Weigh In On Horizon Technology Finance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRZN. Brevan Howard Capital Management LP grew its holdings in Horizon Technology Finance by 15.1% during the fourth quarter. Brevan Howard Capital Management LP now owns 16,093 shares of the investment management company's stock valued at $145,000 after purchasing an additional 2,108 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Horizon Technology Finance during the first quarter valued at approximately $36,000. Quantbot Technologies LP grew 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 valued at $119,000 after purchasing an additional 3,996 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Horizon Technology Finance by 32.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 26,344 shares of the investment management company's stock valued at $237,000 after purchasing an additional 6,416 shares during the last quarter. Finally, ETF Store Inc. grew its holdings in Horizon Technology Finance by 16.6% during the first quarter. ETF Store Inc. now owns 55,348 shares of the investment management company's stock valued at $521,000 after purchasing an additional 7,877 shares during the last quarter. 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.