Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) was the recipient of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 192,200 shares, a drop of 51.6% from the July 31st total of 397,000 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 174,300 shares, the short-interest ratio is presently 1.1 days.
Horizon Technology Finance Stock Down 1.5 %
Shares of NASDAQ HRZN traded down $0.20 during trading on Friday, hitting $12.85. The company had a trading volume of 122,072 shares, compared to its average volume of 190,347. The firm has a market capitalization of $326.16 million, a price-to-earnings ratio of 10.62 and a beta of 1.02. Horizon Technology Finance has a fifty-two week low of $10.55 and a fifty-two week high of $19.08. The stock has a fifty day simple moving average of $12.48 and a two-hundred day simple moving average of $13.17.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The investment management company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Horizon Technology Finance had a net margin of 39.59% and a return on equity of 11.55%. During the same period in the prior year, the business posted $0.31 earnings per share. On average, analysts anticipate that Horizon Technology Finance will post 1.29 earnings per share for the current year.
Horizon Technology Finance Announces Dividend
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The business also recently declared a monthly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $1.20 annualized dividend and a dividend yield of 9.34%. Horizon Technology Finance’s dividend payout ratio is presently 99.17%.
Insider Buying and Selling
In other news, CEO Robert D. Jr. Pomeroy acquired 4,000 shares of the business’s stock in a transaction on Tuesday, June 21st. The stock was bought at an average price of $11.30 per share, with a total value of $45,200.00. Following the completion of the acquisition, the chief executive officer now owns 162,127 shares of the company’s stock, valued at $1,832,035.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Horizon Technology Finance
Several hedge funds and other institutional investors have recently made changes to their positions in HRZN. PNC Financial Services Group Inc. acquired a new stake in shares of Horizon Technology Finance in the first quarter valued at approximately $28,000. JPMorgan Chase & Co. increased its holdings in shares of Horizon Technology Finance by 86.5% in the second quarter. JPMorgan Chase & Co. now owns 3,969 shares of the investment management company’s stock valued at $46,000 after purchasing an additional 1,841 shares during the last quarter. BDO Wealth Advisors LLC increased its holdings in shares of Horizon Technology Finance by 146.4% in the second quarter. BDO Wealth Advisors LLC now owns 5,890 shares of the investment management company’s stock valued at $68,000 after purchasing an additional 3,500 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Horizon Technology Finance by 508.0% during the first quarter. BNP Paribas Arbitrage SA now owns 5,472 shares of the investment management company’s stock worth $76,000 after acquiring an additional 4,572 shares during the last quarter. Finally, Alphastar Capital Management LLC acquired a new stake in Horizon Technology Finance during the second quarter worth $116,000. Institutional investors and hedge funds own 11.30% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating in a research report on Wednesday, May 4th.
About Horizon Technology Finance
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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