Global Assets Advisory LLC Makes New Investment in Horizon Technology Finance Co. (NASDAQ:HRZN)

Global Assets Advisory LLC bought a new position in shares of Horizon Technology Finance Co. (NASDAQ:HRZN) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,669 shares of the investment management company’s stock, valued at approximately $201,000. Global Assets Advisory LLC owned 0.05% of Horizon Technology Finance at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Green Alpha Advisors LLC grew its position in Horizon Technology Finance by 15.1% during the first quarter. Green Alpha Advisors LLC now owns 228,943 shares of the investment management company’s stock worth $2,603,000 after buying an additional 29,956 shares during the period. Creekmur Asset Management LLC purchased a new stake in shares of Horizon Technology Finance in the fourth quarter valued at about $52,000. Capstone Investment Advisors LLC purchased a new stake in shares of Horizon Technology Finance in the fourth quarter valued at about $132,000. Cape Investment Advisory Inc. purchased a new stake in shares of Horizon Technology Finance in the fourth quarter valued at about $56,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Horizon Technology Finance in the fourth quarter valued at about $134,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

Horizon Technology Finance Stock Performance

Horizon Technology Finance stock opened at $11.84 on Friday. Horizon Technology Finance Co. has a 1 year low of $10.75 and a 1 year high of $13.73. The firm’s 50-day moving average is $11.75 and its 200-day moving average is $12.25. The company has a market cap of $414.64 million, a P/E ratio of -28.19 and a beta of 1.22.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings results on Tuesday, April 30th. The investment management company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Horizon Technology Finance had a negative net margin of 12.40% and a positive return on equity of 17.98%. The company had revenue of $26.13 million for the quarter, compared to the consensus estimate of $26.83 million. As a group, sell-side analysts predict that Horizon Technology Finance Co. will post 1.48 earnings per share for the current year.

Horizon Technology Finance Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 17th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.15%. Horizon Technology Finance’s payout ratio is currently -314.28%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HRZN shares. UBS Group dropped their price target on shares of Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating for the company in a research report on Monday, March 18th. Oppenheimer reduced their price objective on shares of Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.38.

Horizon Technology Finance Profile

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.