JPMorgan Chase & Co. Invests $117,000 in Horizon Technology Finance Co. (NASDAQ:HRZN)

JPMorgan Chase & Co. bought a new position in shares of Horizon Technology Finance Co. (NASDAQ:HRZN) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 11,029 shares of the investment management company’s stock, valued at approximately $117,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Green Alpha Advisors LLC lifted its stake in Horizon Technology Finance by 1.8% in the third quarter. Green Alpha Advisors LLC now owns 226,738 shares of the investment management company’s stock valued at $2,415,000 after buying an additional 3,928 shares during the last quarter. International Assets Investment Management LLC increased its stake in Horizon Technology Finance by 810.1% in the 3rd quarter. International Assets Investment Management LLC now owns 50,055 shares of the investment management company’s stock valued at $5,330,000 after buying an additional 44,555 shares during the period. Adell Harriman & Carpenter Inc. acquired a new stake in shares of Horizon Technology Finance in the 3rd quarter worth $128,000. Farther Finance Advisors LLC acquired a new position in Horizon Technology Finance during the 3rd quarter worth approximately $25,000. Finally, ETF Store Inc. grew its stake in shares of Horizon Technology Finance by 3.7% during the 3rd quarter. ETF Store Inc. now owns 52,813 shares of the investment management company’s stock worth $562,000 after purchasing an additional 1,871 shares during the period. Hedge funds and other institutional investors own 4.94% of the company’s stock.

Insider Activity

In other news, Director Michael Balkin acquired 20,000 shares of Horizon Technology Finance stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $8.53 per share, for a total transaction of $170,600.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $170,600. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Gerald A. Michaud bought 8,000 shares of the stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $9.31 per share, with a total value of $74,480.00. Following the completion of the acquisition, the president now directly owns 169,309 shares of the company’s stock, valued at approximately $1,576,266.79. The trade was a 4.96 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.34% of the company’s stock.

Horizon Technology Finance Price Performance

Horizon Technology Finance stock opened at $9.39 on Monday. Horizon Technology Finance Co. has a 12 month low of $8.46 and a 12 month high of $13.42. The stock’s 50-day moving average is $9.18 and its 200-day moving average is $10.15. The company has a market cap of $374.47 million, a price-to-earnings ratio of -78.25 and a beta of 1.21.

Analysts Set New Price Targets

Separately, Compass Point upgraded Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price on the stock in a report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, Horizon Technology Finance has a consensus rating of “Hold” and an average target price of $9.35.

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.