Horizon Technology Finance Co. (NASDAQ:HRZN) Short Interest Up 27.9% in March

Horizon Technology Finance Co. (NASDAQ:HRZN) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 612,000 shares, an increase of 27.9% from the February 28th total of 478,400 shares. Based on an average daily trading volume, of 370,900 shares, the days-to-cover ratio is currently 1.7 days. Approximately 1.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP bought a new position in shares of Horizon Technology Finance during the third quarter valued at $99,000. JPMorgan Chase & Co. purchased a new position in shares of Horizon Technology Finance during the 3rd quarter valued at $117,000. Crew Capital Management Ltd. bought a new position in Horizon Technology Finance in the 4th quarter worth $99,000. Mutual Advisors LLC bought a new position in shares of Horizon Technology Finance in the fourth quarter worth about $106,000. Finally, Raymond James Financial Inc. purchased a new stake in Horizon Technology Finance during the 4th quarter valued at approximately $124,000. Institutional investors own 4.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on HRZN. StockNews.com lowered Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods dropped their target price on shares of Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Friday, March 7th. Compass Point upgraded Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 price target on the stock in a report on Tuesday, December 17th. Finally, Maxim Group reduced their price target 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. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.56.

Horizon Technology Finance Stock Down 0.5 %

NASDAQ:HRZN traded down $0.05 during mid-day trading on Wednesday, hitting $9.42. 201,087 shares of the stock traded hands, compared to its average volume of 335,485. The business’s 50-day moving average price is $9.44 and its 200 day moving average price is $9.58. The company has a market cap of $379.77 million, a PE ratio of -78.50 and a beta of 1.18. Horizon Technology Finance has a 12-month low of $8.46 and a 12-month high of $12.63.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, March 4th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The firm had revenue of $23.55 million for the quarter, compared to analysts’ expectations of $25.69 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. Analysts anticipate that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Horizon Technology Finance Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 16th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, April 16th. This represents a $1.32 annualized dividend and a yield of 14.01%. Horizon Technology Finance’s payout ratio is -1,100.00%.

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.