The stock of Horizon Technology Finance Corporation (NASDAQ:HRZN) is now priced at $11.59 and the shares are -0.02 points down or -0.17% lower compared to its previous closing price of $11.61. The stock had 108417 contracts set over the past session. HRZN shares’ daily volume is compared to its average trading volume at 0.169 million shares. However, it has a float of 0 million and although its performance was 3.21% over the week, it’s one to watch. Analysts have given the HRZN stock a yearly average price target of $9.75 per share. It means the stock’s downside potential is -15.88%.
The shorts are running away from the Horizon Technology Finance Corporation stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the HRZN shares have declined. Short interest in the stock represents just 0% of its float, but the volume has dropped by -10525. The volume of shorted shares dropped to 393577 from 404102 shares over the last two weeks. The average intraday trading volume has been 147962 shares, which means that days to cover moved to roughly 2.659987.
In the last trading session, Horizon Technology Finance Corporation (NASDAQ:HRZN) raised by $0.36 over the week and gained $0.03 on its 20-day. The stock’s high in the recent session is higher when compared to its 52-week high of $13.78. The stock recorded its established 52-week high on 01/15/20.
Since 03/18/20, the stock has traded to a low of $4.51 at 156.98%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Horizon Technology Finance Corporation’s two-week RSI is 60.67. This suggests that the stock is neutral at the moment and that HRZN shares’ price movement remains stable. The stochastic readings are equally revealing at 86.67% meaning the HRZN share price is currently in oversold territory.
The technical chart shows that the HRZN stock will likely settle at between $11.7 and $11.82 per share. However, if the stock dips below $11.45, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $11.32.
Currently, the stock is trading in the green of MACD, with a reading of 0.29. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Keefe Bruyette raised their recommendation for HRZN from Underperform to Mkt Perform in March 31 review. Aegis Capital analysts upgraded their recommendation of the stock from Hold to Buy while keeping its target price at $13.2 in a flash note released to investors on March 04. Compass Point seeing the improvements upgraded the stock from Sell to Neutral on February 28, placing it at $10.5.
The average rating for the HRZN equity is 2.67 and is currently gathering a bullish momentum. Of 6 analysts tracking Horizon Technology Finance Corporation polled by Reuters, 4 rated HRZN as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the HRZN stock price is 9.35X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 10.1below the group’s average of 21.7. Horizon Technology Finance Corporation has its P/E ratio at 1, which means that the stock is currently trading at a discount relative to the 1.4 industry average.