Horizon Technology Finance Corp (NASDAQ:HRZN) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 267,500 shares, a drop of 22.7% from the August 15th total of 345,900 shares. Based on an average trading volume of 147,100 shares, the days-to-cover ratio is presently 1.8 days.
A number of institutional investors and hedge funds have recently made changes to their positions in HRZN. Sowell Financial Services LLC boosted its stake in Horizon Technology Finance by 119.1% in the first quarter. Sowell Financial Services LLC now owns 4,020 shares of the investment management company’s stock valued at $33,000 after acquiring an additional 2,185 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in Horizon Technology Finance in the first quarter valued at approximately $62,000. Creative Financial Designs Inc. ADV acquired a new stake in Horizon Technology Finance in the second quarter valued at approximately $84,000. Parisi Gray Wealth Management acquired a new stake in Horizon Technology Finance in the first quarter valued at approximately $86,000. Finally, Raymond James & Associates boosted its stake in Horizon Technology Finance by 19.1% in the first quarter. Raymond James & Associates now owns 12,227 shares of the investment management company’s stock valued at $99,000 after acquiring an additional 1,965 shares in the last quarter. Institutional investors own 7.58% of the company’s stock.
Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Horizon Technology Finance from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, August 4th. ValuEngine raised shares of Horizon Technology Finance from a “strong sell” rating to a “sell” rating in a report on Thursday, September 3rd. Finally, TheStreet raised shares of Horizon Technology Finance from a “c+” rating to a “b-” rating in a report on Thursday, August 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Horizon Technology Finance has an average rating of “Hold” and an average price target of $10.83.
Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Tuesday, July 28th. The investment management company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.12. The company had revenue of $13.52 million during the quarter, compared to the consensus estimate of $11.08 million. Horizon Technology Finance had a net margin of 39.91% and a return on equity of 12.43%. On average, sell-side analysts anticipate that Horizon Technology Finance will post 1.27 EPS for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $1.20 annualized dividend and a yield of 9.86%. Horizon Technology Finance’s dividend payout ratio (DPR) is 78.95%.
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, and cleantech industries.
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