Horizon Technology Finance Co. (NASDAQ:HRZN) Sees Large Drop in Short Interest

Horizon Technology Finance Co. (NASDAQ:HRZNGet Rating) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totalling 347,600 shares, a decrease of 26.1% from the April 15th total of 470,600 shares. Based on an average trading volume of 211,100 shares, the days-to-cover ratio is currently 1.6 days.

HRZN stock traded up $0.23 during mid-day trading on Monday, hitting $12.29. 279,277 shares of the company were exchanged, compared to its average volume of 204,146. The firm has a market cap of $294.71 million, a P/E ratio of 9.73 and a beta of 1.01. The firm’s 50 day simple moving average is $13.59 and its 200 day simple moving average is $15.27. Horizon Technology Finance has a 1-year low of $11.62 and a 1-year high of $19.08.

Horizon Technology Finance (NASDAQ:HRZNGet Rating) last announced its earnings results on Tuesday, May 3rd. The investment management company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). The company had revenue of $14.20 million for the quarter, compared to analyst estimates of $14.34 million. Horizon Technology Finance had a return on equity of 11.32% and a net margin of 41.45%. During the same quarter last year, the business posted $0.31 earnings per share. On average, equities research analysts forecast that Horizon Technology Finance will post 1.24 EPS for the current fiscal year.

The business also recently announced a monthly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 18th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $1.20 annualized dividend and a yield of 9.76%. Horizon Technology Finance’s dividend payout ratio (DPR) is currently 96.77%.

Several brokerages have recently issued reports on HRZN. Zacks Investment Research lowered shares of Horizon Technology Finance from a “hold” rating to a “strong sell” rating in a research note on Friday, May 6th. Compass Point raised shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating in a research note on Wednesday, May 4th. Finally, StockNews.com started coverage on shares of Horizon Technology Finance in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.25.

In related news, CEO Robert D. Jr. Pomeroy acquired 4,000 shares of the firm’s stock in a transaction on Friday, May 6th. The shares were purchased at an average price of $12.73 per share, with a total value of $50,920.00. Following the acquisition, the chief executive officer now directly owns 155,539 shares in the company, valued at $1,980,011.47. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Gerald A. Michaud bought 3,050 shares of Horizon Technology Finance stock in a transaction dated Monday, May 9th. The stock was acquired at an average cost of $12.06 per share, for a total transaction of $36,783.00. Following the purchase, the president now directly owns 121,899 shares in the company, valued at approximately $1,470,101.94. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 12,464 shares of company stock worth $151,771. Insiders own 1.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in HRZN. Millennium Management LLC acquired a new stake in Horizon Technology Finance during the 4th quarter worth approximately $1,665,000. Marshall Wace LLP acquired a new stake in shares of Horizon Technology Finance in the fourth quarter valued at approximately $702,000. Shelton Capital Management raised its holdings 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’s stock valued at $5,699,000 after purchasing an additional 32,000 shares during the last quarter. ETF Store Inc. acquired a new stake in shares of Horizon Technology Finance in the fourth quarter valued at approximately $355,000. Finally, Invesco Ltd. raised its holdings in shares of Horizon Technology Finance by 60.3% in the third quarter. Invesco Ltd. now owns 53,448 shares of the investment management company’s stock valued at $869,000 after purchasing an additional 20,107 shares during the last quarter. Hedge funds and other institutional investors own 11.30% of the company’s stock.

Horizon Technology Finance Company Profile (Get Rating)

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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