Horizon Technology Finance Corporation (NASDAQ:HRZN) Sees Large Decline in Short Interest

Horizon Technology Finance Corporation (NASDAQ:HRZN - Get Free Report) was the target of a large 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. Based on an average daily volume of 466,200 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.0% of the shares of the company are sold short.

Horizon Technology Finance Stock Up 0.7%

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

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). Horizon Technology Finance had a positive return on equity of 13.98% and a negative net margin of 36.34%. The business had revenue of $24.52 million for the quarter, compared to analyst estimates of $26.67 million. As a group, equities research analysts anticipate that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 17th will be given a dividend of $0.11 per share. This represents a yield of 18.06%. The ex-dividend date is Monday, June 16th. Horizon Technology Finance's dividend payout ratio is -145.05%.

Analyst Ratings Changes

HRZN has been the topic of a number of analyst reports. Maxim Group decreased their target price on shares of Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. B. Riley assumed coverage on Horizon Technology Finance in a research report on Tuesday, May 13th. They set a "neutral" rating and a $7.00 price target on the stock. UBS Group lowered their price objective on Horizon Technology Finance from $9.00 to $8.25 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen cut Horizon Technology Finance from a "hold" rating to a "sell" rating in a report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods reduced their target price on Horizon Technology Finance from $8.00 to $7.50 and set an "underperform" rating on the stock in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $8.45.

Institutional Trading of Horizon Technology Finance

A number of hedge funds have recently added to or reduced their stakes in the stock. Green Alpha Advisors LLC grew its holdings in shares of Horizon Technology Finance by 23.5% during the first quarter. Green Alpha Advisors LLC now owns 358,742 shares of the investment management company's stock worth $3,379,000 after purchasing an additional 68,295 shares during the last quarter. TrueMark Investments LLC raised its holdings in Horizon Technology Finance by 30.2% in the 1st quarter. TrueMark Investments LLC now owns 272,512 shares of the investment management company's stock valued at $2,567,000 after buying an additional 63,134 shares during the last quarter. Trexquant Investment LP boosted its position in Horizon Technology Finance by 196.4% during the 4th quarter. Trexquant Investment LP now owns 198,451 shares of the investment management company's stock worth $1,784,000 after buying an additional 131,505 shares during the period. LPL Financial LLC grew its holdings in Horizon Technology Finance by 9.7% during the 4th quarter. LPL Financial LLC now owns 176,871 shares of the investment management company's stock worth $1,590,000 after acquiring an additional 15,670 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Horizon Technology Finance in the 4th quarter valued at approximately $1,288,000. Institutional investors and hedge funds 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.

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