Horizon Technology Finance Corporation (NASDAQ:HRZN) Short Interest Down 25.8% in May

Horizon Technology Finance Corporation (NASDAQ:HRZN) 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 presently 2.5 days. Approximately 3.0% of the shares of the stock are sold short.

Analyst Ratings Changes

Several brokerages have commented on HRZN. UBS Group decreased their price target on shares of 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. Keefe, Bruyette & Woods cut their price target on shares of Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating on the stock in a report on Tuesday, April 8th. Compass Point downgraded shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $6.50 target price on the stock. in a research note on Wednesday, April 30th. Maxim Group dropped their price objective on shares of Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Wall Street Zen downgraded shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.45.

Horizon Technology Finance Trading Up 0.7%

NASDAQ HRZN opened at $7.41 on Friday. The company has a fifty day simple moving average of $7.73 and a two-hundred day simple moving average of $8.71. The stock has a market cap of $298.99 million, a P/E ratio of -8.14 and a beta of 1.01. Horizon Technology Finance has a 12-month low of $7.12 and a 12-month high of $12.63.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, April 29th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 negative net margin of 36.34% and a positive return on equity of 13.98%. As a group, sell-side analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Horizon Technology Finance Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a yield of 18.06%. Horizon Technology Finance’s dividend payout ratio is presently -145.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC purchased a new position in Horizon Technology Finance in the first quarter valued at $36,000. Crew Capital Management Ltd. purchased a new position in Horizon Technology Finance in the fourth quarter valued at $99,000. Quantbot Technologies LP increased its holdings in Horizon Technology Finance by 43.0% in the fourth quarter. Quantbot Technologies LP now owns 13,290 shares of the investment management company’s stock valued at $119,000 after buying an additional 3,996 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Horizon Technology Finance in the fourth quarter valued at $124,000. Finally, Aigen Investment Management LP purchased a new position in Horizon Technology Finance in the fourth quarter valued at $133,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

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.