Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 432,100 shares, a decline of 29.4% from the March 15th total of 612,000 shares. Based on an average daily volume of 377,300 shares, the days-to-cover ratio is currently 1.1 days. Currently, 1.1% of the shares of the stock are short sold.
Analyst Ratings Changes
A number of research firms have recently commented on HRZN. Maxim Group dropped their price objective on shares of Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 10th. UBS Group dropped their price objective on shares of Horizon Technology Finance from $9.00 to $8.25 and set a "neutral" rating for the company in a research note on Thursday, April 17th. StockNews.com downgraded shares of Horizon Technology Finance from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Horizon Technology Finance from $8.00 to $7.50 and set an "underperform" rating for the company in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $9.20.
Read Our Latest Report on Horizon Technology Finance
Institutional Trading of Horizon Technology Finance
Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in shares of Horizon Technology Finance during the third quarter worth approximately $117,000. Crew Capital Management Ltd. acquired a new stake in shares of Horizon Technology Finance during the fourth quarter worth approximately $99,000. Mutual Advisors LLC acquired a new stake in shares of Horizon Technology Finance during the fourth quarter worth approximately $106,000. Quantbot Technologies LP grew its position in shares of Horizon Technology Finance by 43.0% during the fourth quarter. Quantbot Technologies LP now owns 13,290 shares of the investment management company's stock worth $119,000 after buying an additional 3,996 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Horizon Technology Finance during the fourth quarter worth approximately $124,000. Institutional investors and hedge funds own 4.94% of the company's stock.
Horizon Technology Finance Stock Performance
HRZN traded up $0.11 on Wednesday, reaching $8.43. 38,335 shares of the company's stock were exchanged, compared to its average volume of 350,109. The company's 50 day moving average is $9.07 and its 200-day moving average is $9.32. The company has a market cap of $339.86 million, a price-to-earnings ratio of -70.25 and a beta of 1.08. Horizon Technology Finance has a twelve month low of $7.55 and a twelve month high of $12.63.
Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The firm had revenue of $23.55 million during the quarter, compared to analyst estimates of $25.69 million. Sell-side analysts forecast that Horizon Technology Finance will post 1.38 EPS for the current year.
Horizon Technology Finance Cuts Dividend
The company also recently disclosed a dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be given a $0.11 dividend. This represents a yield of 16.34%. The ex-dividend date is Wednesday, April 16th. Horizon Technology Finance's dividend payout ratio (DPR) is -1,100.00%.
About Horizon Technology Finance
(
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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