Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 465,200 shares, a growth of 45.5% from the May 31st total of 319,800 shares. Currently, 4.3% of the shares of the company are short sold. Based on an average trading volume of 201,500 shares, the days-to-cover ratio is currently 2.3 days.
Several equities analysts have issued reports on the stock. Compass Point raised shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating in a research note on Wednesday, May 4th. StockNews.com assumed coverage on shares of Horizon Technology Finance in a research note on Thursday, March 31st. They issued a “sell” rating on the stock.
Shares of NASDAQ HRZN traded up $0.36 during trading on Friday, hitting $11.90. 207,390 shares of the company were exchanged, compared to its average volume of 198,695. The company has a market cap of $285.36 million, a price-to-earnings ratio of 9.60 and a beta of 1.02. Horizon Technology Finance has a 1 year low of $10.55 and a 1 year high of $19.08. The firm’s fifty day moving average price is $12.01 and its 200 day moving average price is $13.99.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last issued 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 analysts’ expectations 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 in the previous year, the firm posted $0.31 earnings per share. As a group, sell-side analysts forecast that Horizon Technology Finance will post 1.24 earnings per share for the current 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 given 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 dividend yield of 10.08%. Horizon Technology Finance’s payout ratio is currently 96.77%.
In other Horizon Technology Finance news, CEO Robert D. Jr. Pomeroy bought 4,000 shares of the business’s stock in a transaction dated Tuesday, June 21st. The shares were acquired at an average cost of $11.30 per share, with a total value of $45,200.00. Following the acquisition, the chief executive officer now directly owns 162,127 shares of the company’s stock, valued at approximately $1,832,035.10. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Savage bought 10,000 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was acquired at an average cost of $12.23 per share, for a total transaction of $122,300.00. Following the completion of the acquisition, the director now directly owns 50,000 shares in the company, valued at $611,500. The disclosure for this purchase can be found here. Insiders bought a total of 26,464 shares of company stock worth $319,271 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Horizon Technology Finance by 508.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,472 shares of the investment management company’s stock worth $76,000 after buying an additional 4,572 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Horizon Technology Finance by 5.3% in the 1st quarter. Advisors Asset Management Inc. now owns 262,733 shares of the investment management company’s stock worth $3,652,000 after buying an additional 13,247 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Horizon Technology Finance by 366.2% in the 1st quarter. Royal Bank of Canada now owns 28,967 shares of the investment management company’s stock worth $402,000 after buying an additional 22,753 shares in the last quarter. Eqis Capital Management Inc. boosted its position in shares of Horizon Technology Finance by 1.7% in the 1st quarter. Eqis Capital Management Inc. now owns 192,095 shares of the investment management company’s stock worth $2,670,000 after buying an additional 3,203 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Horizon Technology Finance by 8.0% in the 1st quarter. Mackenzie Financial Corp now owns 92,987 shares of the investment management company’s stock worth $1,293,000 after buying an additional 6,885 shares in the last quarter. Institutional investors and hedge funds 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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