Short Interest in Horizon Technology Finance Co. (NASDAQ:HRZN) Grows By 22.2%

Horizon Technology Finance Co. (NASDAQ:HRZN) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 386,800 shares, an increase of 22.2% from the January 31st total of 316,600 shares. Based on an average daily volume of 399,600 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

HRZN has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their price target on shares of Horizon Technology Finance from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Friday. StockNews.com lowered Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, 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. Three analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $8.94.

Insiders Place Their Bets

In related news, Director Michael Balkin acquired 20,000 shares of Horizon Technology Finance stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $8.53 per share, with a total value of $170,600.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $170,600. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Horizon Technology Finance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Two Sigma Advisers LP grew its stake in shares of Horizon Technology Finance by 44.6% in the 4th quarter. Two Sigma Advisers LP now owns 49,897 shares of the investment management company’s stock worth $449,000 after acquiring an additional 15,397 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new stake in Horizon Technology Finance in the 4th quarter worth about $220,000. Brevan Howard Capital Management LP grew its position in Horizon Technology Finance by 15.1% in the 4th 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 in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Horizon Technology Finance in the 4th quarter valued at about $173,000. Finally, Jane Street Group LLC bought a new position in shares of Horizon Technology Finance during the 4th quarter worth approximately $447,000. 4.94% of the stock is owned by hedge funds and other institutional investors.

Horizon Technology Finance Price Performance

Shares of NASDAQ HRZN opened at $9.27 on Friday. The company has a 50-day moving average price of $9.38 and a 200-day moving average price of $9.82. The stock has a market capitalization of $369.65 million, a P/E ratio of -77.25 and a beta of 1.22. Horizon Technology Finance has a 1 year low of $8.46 and a 1 year high of $12.63.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings results on Tuesday, March 4th. 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 company had revenue of $23.55 million for the quarter, compared to analyst estimates of $25.69 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. 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 Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, March 17th. This represents a $1.32 annualized dividend and a yield of 14.24%. Horizon Technology Finance’s dividend payout ratio (DPR) is currently -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.