Short Interest in Horizon Technology Finance Co. (NASDAQ:HRZN) Drops By 12.0%

Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 560,000 shares, a drop of 12.0% from the March 15th total of 636,400 shares. Based on an average daily volume of 283,000 shares, the short-interest ratio is currently 2.0 days. Approximately 1.7% of the shares of the company are short sold.

Insider Transactions at Horizon Technology Finance

In other news, President Gerald A. Michaud acquired 3,650 shares of Horizon Technology Finance stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average price of $11.77 per share, with a total value of $42,960.50. Following the completion of the purchase, the president now owns 156,244 shares in the company, valued at $1,838,991.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Horizon Technology Finance

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in shares of Horizon Technology Finance by 2.5% in the 4th quarter. Royal Bank of Canada now owns 36,819 shares of the investment management company's stock worth $485,000 after acquiring an additional 887 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Horizon Technology Finance by 4.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 24,724 shares of the investment management company's stock worth $300,000 after acquiring an additional 1,039 shares during the last quarter. UBS Group AG lifted its holdings in shares of Horizon Technology Finance by 4.7% in the 4th quarter. UBS Group AG now owns 23,254 shares of the investment management company's stock worth $306,000 after acquiring an additional 1,043 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Horizon Technology Finance by 3.5% in the 2nd quarter. Wells Fargo & Company MN now owns 35,289 shares of the investment management company's stock worth $426,000 after acquiring an additional 1,182 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Horizon Technology Finance by 6.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 22,572 shares of the investment management company's stock valued at $255,000 after buying an additional 1,358 shares during the last quarter. 4.94% of the stock is currently owned by institutional investors.

Horizon Technology Finance Price Performance

HRZN stock traded up $0.02 during midday trading on Tuesday, reaching $11.25. The company had a trading volume of 413,426 shares, compared to its average volume of 280,816. Horizon Technology Finance has a 1 year low of $10.75 and a 1 year high of $13.73. The company has a market capitalization of $375.75 million, a P/E ratio of -23.14 and a beta of 1.21. The firm has a 50-day moving average price of $12.01 and a 200-day moving average price of $12.35.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The investment management company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.03). The business had revenue of $28.18 million during the quarter, compared to the consensus estimate of $29.21 million. Horizon Technology Finance had a positive return on equity of 18.24% and a negative net margin of 15.14%. On average, equities analysts predict that Horizon Technology Finance will post 1.53 EPS for the current year.

Horizon Technology Finance Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Tuesday, March 19th will be issued a $0.16 dividend. This represents a dividend yield of 16.48%. This is a positive change from Horizon Technology Finance's previous dividend of $0.11. The ex-dividend date of this dividend is Monday, March 18th. Horizon Technology Finance's payout ratio is presently -269.38%.

Wall Street Analyst Weigh In

Several brokerages recently commented on HRZN. LADENBURG THALM/SH SH reaffirmed a "neutral" rating on shares of Horizon Technology Finance in a research note on Wednesday, February 28th. B. Riley cut shares of Horizon Technology Finance from a "neutral" rating to a "sell" rating and set a $11.00 price objective for the company. in a research note on Monday, January 8th. Oppenheimer reduced their price objective on shares of Horizon Technology Finance from $11.00 to $10.00 and set a "market perform" rating for the company in a research note on Friday, March 1st. Finally, UBS Group cut their price target on shares of Horizon Technology Finance from $11.50 to $10.50 and set a "neutral" rating for the company in a research note on Monday, March 18th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $10.38.

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.