Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) was the target of a significant decline in short interest in the month of September. As of September 30, there was short interest on a total of 168,400 shares, a decrease of 20.5% from the September 15 total of 211,900 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily trading volume of 166,700 shares, the short-term interest rate is currently 1.0 days.
Institutional investors weigh in on Horizon Technology Finance
Several hedge funds and other institutional investors have recently made changes to their stock positions. Green Alpha Advisors LLC increased its position in Horizon Technology Finance by 364.2% during the second quarter. Green Alpha Advisors LLC now owns 592,570 shares of the investment management company worth $6,838,000 after purchasing an additional 464,907 shares during the period. Shelton Capital Management improved its position in shares of Horizon Technology Finance by 8.5% in the first quarter. Shelton Capital Management now owns 410,000 shares of the investment management company worth $5,699,000 after purchasing an additional 32,000 shares during the period. Bank of Montreal Can purchased a new position in shares of Horizon Technology Finance in the second quarter worth approximately $287,000. Royal Bank of Canada increased its position in shares of Horizon Technology Finance by 366.2% in the first quarter. Royal Bank of Canada now owns 28,967 shares of the investment management company worth $402,000 after purchasing an additional 22,753 shares during the period. Finally, Virtus ETF Advisers LLC improved its position in shares of Horizon Technology Finance by 42.9% in the second quarter. Virtus ETF Advisers LLC now owns 52,073 shares of the investment management company worth $601,000 after purchasing an additional 15,639 shares during the period. 12.53% of the shares are owned by institutional investors.
Changes in analyst ratings
Several stock research analysts have commented on the stock. B. Riley reaffirmed a “neutral” rating and issued a $10.50 price target on shares of Horizon Technology Finance in a research note on Friday, September 16. UBS Group assumed coverage of the shares of Horizon Technology Finance in a research note on Friday, September 9. They issued a “neutral” rating and a $12.50 price target for the company. Janney Montgomery Scott took over the coverage of the shares of Horizon Technology Finance in a research note on Wednesday, October 5. They issued a “neutral” rating and a $10.00 price target for the company. Finally, StockNews.com kicked off coverage of Horizon Technology Finance stock in a research note on Wednesday. They issued a “sale” rating for the company. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat data, Horizon Technology Finance currently has an average rating of “Hold” and a consensus price target of $11.00.
Horizon Technology Finance shares rose 0.1%
HRZN shares opened at $10.57 on Friday. The company has a market capitalization of $268.27 million, a price-earnings ratio of 8.74, and a beta of 1.07. The company has a fifty-day moving average of $11.86 and a 200-day moving average of $12.30. Horizon Technology Finance has a 12-month minimum of $9.67 and a 12-month maximum of $19.08.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last announced its quarterly earnings results on Tuesday, August 2. The investment management company reported $0.35 EPS for the quarter, beating analyst consensus estimates of $0.31 by $0.04. The firm had revenue of $18.59 million during the quarter, compared to analyst expectations of $16.05 million. Horizon Technology Finance had a net margin of 39.59% and a return on equity of 11.55%. During the same quarter last year, the company posted earnings per share of $0.31. On average, equity analysts expect Horizon Technology Finance to post 1.27 EPS for the current year.
Horizon Technology Finance Dividend Announcement
The company also recently announced a monthly dividend, to be paid on Thursday, December 15. Shareholders of record on Thursday, November 17 will receive a dividend of $0.10. This represents an annualized dividend of $1.20 and a yield of 11.35%. The ex-dividend date is Wednesday, November 16. Horizon Technology Finance’s dividend payout ratio is currently 99.17%.
Horizon Technology Finance Company Profile
Horizon Technology Finance Corporation is a business development company that specializes in development-stage loans and investments. It focuses on making collateralized debt investments and venture loans for venture capital-backed companies in the technology, life sciences, healthcare information and services, and cleantech industries.
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