Horizon Technology Finance Corporation (NASDAQ:HRZN) Sees Significant Decrease in Short Interest

Horizon Technology Finance Corporation (NASDAQ:HRZN - Get Free Report) was the target of a significant decline in short interest in May. As of May 31st, there was short interest totalling 1,180,000 shares, a decline of 25.8% from the May 15th total of 1,590,000 shares. Approximately 3.0% of the shares of the stock are short sold. Based on an average daily volume of 466,200 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Trading of Horizon Technology Finance

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brevan Howard Capital Management LP grew its holdings in shares of 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 worth $145,000 after purchasing an additional 2,108 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Horizon Technology Finance during the first quarter worth about $36,000. Quantbot Technologies LP grew its holdings in shares of 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 purchasing an additional 3,996 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of 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 worth $237,000 after purchasing an additional 6,416 shares during the last quarter. Finally, ETF Store Inc. grew its holdings in shares of 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 worth $521,000 after purchasing an additional 7,877 shares during the last quarter. 4.94% of the stock is currently owned by institutional investors.

Horizon Technology Finance Trading Down 0.7%

NASDAQ HRZN traded down $0.05 during trading on Friday, hitting $7.36. 318,421 shares of the company's stock were exchanged, compared to its average volume of 400,440. The company has a market cap of $296.98 million, a PE ratio of -8.09 and a beta of 1.01. Horizon Technology Finance has a fifty-two week low of $7.12 and a fifty-two week high of $12.63. The stock's 50 day moving average price is $7.71 and its two-hundred day moving average price is $8.69.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last issued its earnings results on Tuesday, April 29th. The investment management company reported $0.27 EPS 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 analyst estimates of $26.67 million. Horizon Technology Finance had a positive return on equity of 13.98% and a negative net margin of 36.34%. Analysts forecast that Horizon Technology Finance will post 1.38 earnings per share 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. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.11 per share. This represents a dividend yield of 18.06%. The ex-dividend date is Monday, June 16th. Horizon Technology Finance's dividend payout ratio (DPR) is currently -145.05%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HRZN shares. Maxim Group dropped their price target on 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. Keefe, Bruyette & Woods dropped their price target on 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. Compass Point downgraded Horizon Technology Finance from a "neutral" rating to a "sell" rating and set a $6.50 price target for the company. in a research note on Wednesday, April 30th. B. Riley assumed coverage on Horizon Technology Finance in a research note on Tuesday, May 13th. They set a "neutral" rating and a $7.00 target price for the company. Finally, UBS Group lowered their target price on Horizon Technology Finance from $9.00 to $8.25 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Horizon Technology Finance presently has an average rating of "Hold" and an average target price 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.