Horizon Technology Finance Co. (NASDAQ:HRZN) Short Interest Up 15.5% in March

Horizon Technology Finance Co. (NASDAQ:HRZNGet Free Report) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 636,400 shares, an increase of 15.5% from the February 29th total of 551,200 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average daily volume of 278,500 shares, the days-to-cover ratio is currently 2.3 days.

Insider Buying and Selling

In other Horizon Technology Finance news, President Gerald A. Michaud bought 3,650 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average price of $11.77 per share, with a total value of $42,960.50. Following the transaction, the president now owns 156,244 shares in the company, valued at $1,838,991.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Horizon Technology Finance

A number of institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. bought a new stake in Horizon Technology Finance during the first quarter worth approximately $28,000. Natixis Advisors L.P. boosted its position in Horizon Technology Finance by 14.1% during the first quarter. Natixis Advisors L.P. now owns 47,863 shares of the investment management company’s stock worth $665,000 after purchasing an additional 5,931 shares during the period. Mackenzie Financial Corp boosted its position in Horizon Technology Finance by 8.0% during the first quarter. Mackenzie Financial Corp now owns 92,987 shares of the investment management company’s stock worth $1,293,000 after purchasing an additional 6,885 shares during the period. Eqis Capital Management Inc. boosted its position in Horizon Technology Finance by 1.7% during the first quarter. Eqis Capital Management Inc. now owns 192,095 shares of the investment management company’s stock worth $2,670,000 after purchasing an additional 3,203 shares during the period. Finally, Royal Bank of Canada boosted its position in Horizon Technology Finance by 366.2% during the first quarter. Royal Bank of Canada now owns 28,967 shares of the investment management company’s stock worth $402,000 after purchasing an additional 22,753 shares during the period. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Horizon Technology Finance Trading Down 0.7 %

Shares of HRZN opened at $11.29 on Tuesday. The business’s 50-day moving average price is $12.40 and its 200 day moving average price is $12.38. The stock has a market capitalization of $377.09 million, a P/E ratio of -23.04 and a beta of 1.21. Horizon Technology Finance has a 1-year low of $10.75 and a 1-year high of $13.73.

Horizon Technology Finance (NASDAQ:HRZNGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The investment management company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The company had revenue of $28.18 million during the quarter, compared to analysts’ expectations of $29.21 million. Horizon Technology Finance had a positive return on equity of 18.24% and a negative net margin of 15.14%. On average, research analysts predict that Horizon Technology Finance will post 1.53 earnings per share for the current year.

Horizon Technology Finance Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Tuesday, March 19th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, March 18th. This is a positive change from Horizon Technology Finance’s previous dividend of $0.11. This represents a yield of 16.48%. Horizon Technology Finance’s dividend payout ratio (DPR) is presently -269.38%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Horizon Technology Finance in a research note on Wednesday, February 28th. Oppenheimer lowered their price target on Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, March 1st. B. Riley lowered Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 target price on the stock. in a report on Monday, January 8th. Finally, UBS Group lowered their target price on Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a report on Monday, March 18th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, Horizon Technology Finance has a consensus rating of “Hold” and an average target price of $10.80.

Check Out Our Latest Stock Report on Horizon Technology Finance

Horizon Technology Finance Company Profile

(Get Free Report)

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.

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