Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) saw a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 375,900 shares, a decline of 7.5% from the December 31st total of 406,200 shares. Based on an average trading volume of 184,400 shares, the short-interest ratio is currently 2.0 days. Currently, 1.4% of the shares of the company are short sold.
Insider Transactions at Horizon Technology Finance
In other news, CEO Robert D. Jr. Pomeroy acquired 4,000 shares of Horizon Technology Finance stock in a transaction dated Friday, December 9th. The stock was bought at an average price of $13.03 per share, for a total transaction of $52,120.00. Following the completion of the acquisition, the chief executive officer now directly owns 172,821 shares in the company, valued at approximately $2,251,857.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President Gerald A. Michaud purchased 18,250 shares of the business's stock in a transaction that occurred on Tuesday, December 20th. The stock was acquired at an average cost of $11.03 per share, for a total transaction of $201,297.50. Following the completion of the purchase, the president now owns 144,585 shares in the company, valued at approximately $1,594,772.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert D. Jr. Pomeroy purchased 4,000 shares of the business's stock in a transaction that occurred on Friday, December 9th. The stock was bought at an average price of $13.03 per share, with a total value of $52,120.00. Following the completion of the purchase, the chief executive officer now owns 172,821 shares of the company's stock, valued at approximately $2,251,857.63. The disclosure for this purchase can be found here. Insiders bought a total of 27,008 shares of company stock worth $314,902 over the last quarter. Company insiders own 1.50% of the company's stock.
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Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV increased its holdings in shares of Horizon Technology Finance by 13.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 10,007 shares of the investment management company's stock worth $100,000 after buying an additional 1,173 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Horizon Technology Finance by 7.9% during the third quarter. Envestnet Asset Management Inc. now owns 20,303 shares of the investment management company's stock worth $203,000 after buying an additional 1,480 shares in the last quarter. Natixis Advisors L.P. increased its holdings in Horizon Technology Finance by 3.5% in the second quarter. Natixis Advisors L.P. now owns 49,522 shares of the investment management company's stock valued at $571,000 after purchasing an additional 1,659 shares during the period. JPMorgan Chase & Co. increased its holdings in 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 period. Finally, BDO Wealth Advisors LLC increased its holdings in Horizon Technology Finance by 34.0% in the third quarter. BDO Wealth Advisors LLC now owns 7,890 shares of the investment management company's stock valued at $79,000 after purchasing an additional 2,000 shares during the period. 9.82% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods cut Horizon Technology Finance from a "market perform" rating to an "underperform" rating and cut their price target for the company from $11.50 to $10.50 in a research note on Tuesday, December 20th. StockNews.com assumed coverage on Horizon Technology Finance in a research note on Wednesday, October 12th. They issued a "sell" rating for the company. Finally, Janney Montgomery Scott began coverage on Horizon Technology Finance in a research note on Wednesday, October 5th. They issued a "neutral" rating and a $10.00 price target for the company. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $10.88.
Horizon Technology Finance Price Performance
HRZN traded up $0.03 during trading on Monday, hitting $12.11. 153,452 shares of the stock traded hands, compared to its average volume of 203,417. Horizon Technology Finance has a twelve month low of $9.67 and a twelve month high of $16.39. The company has a market cap of $319.70 million, a price-to-earnings ratio of 14.91 and a beta of 1.15. The business has a 50 day moving average price of $12.28 and a 200 day moving average price of $12.14.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The investment management company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.33 by $0.10. Horizon Technology Finance had a net margin of 26.58% and a return on equity of 11.93%. The business had revenue of $23.25 million during the quarter, compared to the consensus estimate of $18.92 million. On average, equities research analysts predict that Horizon Technology Finance will post 1.42 earnings per share for the current year.
Horizon Technology Finance Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Friday, February 17th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, February 16th. This represents a $1.32 annualized dividend and a dividend yield of 10.90%. Horizon Technology Finance's dividend payout ratio (DPR) is presently 162.96%.
Horizon Technology Finance Company Profile
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Horizon Technology Finance Corp. operates as a specialty finance company, which engages in the provision of capital in the form of secured loans to venture capital backed companies. It is also involved in lending and investing in portfolio companies in technology, life science, healthcare information and services and cleantech industries.
Further Reading
- Get a free copy of the StockNews.com research report on Horizon Technology Finance (HRZN)
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