Horizon Technology Finance Corporation is an externally managed, closed-end, non-diversified management investment company. The Company's investment objective is to maximize investment portfolio's total return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. It lends to and invests in development-stage companies in the technology, life science, healthcare information and services and cleantech industries (collectively Target Industries). It is focused on making secured debt investments (Venture Loans) to venture capital backed companies in its Target Industries. As of December 31, 2016, its debt investment portfolio consisted of 44 debt investments. As of December 31, 2016, the Company held warrants to purchase stock, predominantly preferred stock, in 78 portfolio companies, equity positions in five portfolio companies and success fee arrangements in 11 portfolio companies.
Industry, Sector and Symbol:
- 50 Day Moving Avg: $10.58
- 200 Day Moving Avg: $11.06
- 52 Week Range: $9.64 - $13.79
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 9.70
- P/E Growth: 2.01
- Annual Dividend: $1.20
- Dividend Yield: 10.9%
- Net Margins: -6.72%
- Return on Equity: 10.24%
- Return on Assets: 6.29%
- Current Ratio: 0.27%
- Quick Ratio: 0.27%
- Average Volume: 52,989 shs.
- Beta: 0.82
Frequently Asked Questions for Horizon Technology Finance Corporation (NASDAQ:HRZN)
What is Horizon Technology Finance Corporation's stock symbol?
Horizon Technology Finance Corporation trades on the NASDAQ under the ticker symbol "HRZN."
How often does Horizon Technology Finance Corporation pay dividends? What is the dividend yield for Horizon Technology Finance Corporation?
Horizon Technology Finance Corporation announced a monthly dividend on Wednesday, August 2nd. Investors of record on Thursday, October 19th will be paid a dividend of $0.10 per share on Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 10.95%. The ex-dividend date is Wednesday, October 18th. View Horizon Technology Finance Corporation's Dividend History.
How were Horizon Technology Finance Corporation's earnings last quarter?
Horizon Technology Finance Corporation (NASDAQ:HRZN) released its earnings results on Tuesday, August, 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by $0.03. The business earned $5.88 million during the quarter, compared to the consensus estimate of $6.71 million. Horizon Technology Finance Corporation had a negative net margin of 6.72% and a positive return on equity of 10.24%. The company's quarterly revenue was down 35.3% on a year-over-year basis. During the same period last year, the business posted $0.39 earnings per share. View Horizon Technology Finance Corporation's Earnings History.
When will Horizon Technology Finance Corporation make its next earnings announcement?
Where is Horizon Technology Finance Corporation's stock going? Where will Horizon Technology Finance Corporation's stock price be in 2017?
5 brokers have issued 12-month price objectives for Horizon Technology Finance Corporation's stock. Their forecasts range from $10.00 to $12.00. On average, they anticipate Horizon Technology Finance Corporation's share price to reach $10.75 in the next twelve months. View Analyst Ratings for Horizon Technology Finance Corporation.
What are analysts saying about Horizon Technology Finance Corporation stock?
Here are some recent quotes from research analysts about Horizon Technology Finance Corporation stock:
- 1. Maxim Group analysts commented, "We upgrade HRZN to Buy, from Hold, mainly based on: (1) the hiring of three senior professionals focused on originating technology and life sciences loans; (2) a pipeline of loan commitments larger than at any time in the past five years; (3) producing expectations of a larger loan portfolio; and (4) coverage of the dividend in 2018." (8/23/2017)
- 2. National Securities analysts commented, "• HRZN experienced a 2.0% sequential Q/Q decline in NAV/share to $11.87 from $12.11, generating an annualized economic return of 2.1% for the quarter. In 2Q17, Interleukin Genetics was placed on non-accrual status with a cost of $4.0 million. HRZN began to work with the sponsors at Interleukin as they pursued a clinical services agreement but when it became apparent they wouldn’t get this they instead began to work on liquidating the company. What is concerning, in our opinion, is the fact that Interleukin was marked at 98% of cost as of 3/31/17.
• NII/share was light at $0.24/share, contrasted with a $0.30/share quarterly dividend and our estimate of $0.29/share. We had previously estimated a reduction in the dividend to $0.27/share in 3Q18 but are now anticipating a much more severe cut to $0.22/share in 1Q18. The light NII/share during the quarter came about even as the incentive fee was not fully earned and the company had the benefit of $327,000 in prepayment fees during the quarter. We cannot fathom how, with a fully earned incentive fee and lower prepayments (and thus lower fee income), HRZN will earn the $0.30/share quarterly dividend going forward.
• We are revising our 2017 NII/share estimate to $0.98 from $1.17 and our 2018 NII/share estimate to $0.96 from $1.16." (8/7/2017)
- 3. According to Zacks Investment Research, "Horizon Technology Finance Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company makes secured loans to development-stage companies in the technology, life science, healthcare information and services, and cleantech industries. Horizon Technology Finance Corporation is headquartered in Farmington, United States of America. " (8/3/2017)
Who are some of Horizon Technology Finance Corporation's key competitors?
Some companies that are related to Horizon Technology Finance Corporation include Gladstone Capital Corporation (GLAD), Invesco Bond Fund (VBF), Stellus Capital Investment Corporation (SCM), TriplePoint Venture Growth BDC Corp. (TPVG), Alcentra Capital Corp. (ABDC), Capitala Finance Corp. (CPTA), StoneCastle Financial Corp (BANX), KCAP Financial (KCAP), American Capital Senior Floating (ACSF), GSV Capital Corp (GSVC), Harvest Capital Credit Corporation (HCAP), GLI Finance Ltd (GLIF), Andalas Energy and Power PLC (ADL), Andalas Energy and Power PLC (CEB), BlackRock Enhanced Global Dividend Trust (BOE), BlackRock LT Municipal Advantage Trust (BTA), Blackrock Taxable Municipal Bond Trust (BBN) and Carador Income Fund PLC (CIFU).
Who are Horizon Technology Finance Corporation's key executives?
Horizon Technology Finance Corporation's management team includes the folowing people:
- Robert D. Pomeroy Jr., Chairman of the Board, Chief Executive Officer
- Gerald A. Michaud, President, Director
- Daniel R. Trolio, Chief Financial Officer, Senior Vice President
- John C. Bombara, Senior Vice President, General Counsel, Chief Compliance Officer and Secretary
- Dan S. Devorsetz, Senior Vice President, Chief Credit Officer
- James J. Bottiglieri, Independent Director
- Edmund V. Mahoney, Independent Director
- Elaine A. Sarsynski, Independent Director
- Joseph J. Savage, Independent Director
Who owns Horizon Technology Finance Corporation stock?
Horizon Technology Finance Corporation's stock is owned by a number of of institutional and retail investors. Top institutional investors include Advisors Asset Management Inc. (0.00%), LSV Asset Management (0.00%), West Family Investments Inc. (0.00%), Wells Fargo & Company MN (0.00%), WFG Advisors LP (0.00%) and Royal Bank of Canada (0.00%). Company insiders that own Horizon Technology Finance Corporation stock include Elaine A Sarsynski, Gerald A Michaud, Joseph J Savage and Robert D Jr Pomeroy. View Institutional Ownership Trends for Horizon Technology Finance Corporation.
Who sold Horizon Technology Finance Corporation stock? Who is selling Horizon Technology Finance Corporation stock?
Who bought Horizon Technology Finance Corporation stock? Who is buying Horizon Technology Finance Corporation stock?
Horizon Technology Finance Corporation's stock was bought by a variety of institutional investors in the last quarter, including West Family Investments Inc., Investment Centers of America Inc., WFG Advisors LP and Royal Bank of Canada. Company insiders that have bought Horizon Technology Finance Corporation stock in the last two years include Elaine A Sarsynski, Gerald A Michaud, Joseph J Savage and Robert D Jr Pomeroy. View Insider Buying and Selling for Horizon Technology Finance Corporation.
How do I buy Horizon Technology Finance Corporation stock?
Shares of Horizon Technology Finance Corporation can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Horizon Technology Finance Corporation's stock price today?
MarketBeat Community Rating for Horizon Technology Finance Corporation (NASDAQ HRZN)MarketBeat's community ratings are surveys of what our community members think about Horizon Technology Finance Corporation and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of Horizon Technology Finance Corporation stock can currently be purchased for approximately $10.96.
Consensus Ratings for Horizon Technology Finance Corporation (NASDAQ:HRZN) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||1 Sell Rating, 3 Hold Ratings, 1 Buy Rating|
|Consensus Rating:||Hold (Score: 2.00)|
|Consensus Price Target: ||$10.75 (1.92% downside)|
Analysts' Ratings History for Horizon Technology Finance Corporation (NASDAQ:HRZN)
(Data available from 9/26/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|8/23/2017||Maxim Group||Upgrade||Hold -> Buy||$12.00||Medium|
|8/21/2017||Compass Point||Upgrade||Sell -> Neutral||$10.00||Low|
|8/7/2017||National Securities||Reiterated Rating||Neutral||$11.00 -> $10.00||Low|
|8/3/2017||Raymond James Financial, Inc.||Reiterated Rating||Market Perform -> Underperform||Medium|
|7/25/2017||Keefe, Bruyette & Woods||Reiterated Rating||Hold||$11.00||Low|
|8/4/2016||Oppenheimer Holdings, Inc.||Downgrade||Outperform -> Market Perform||N/A|
|8/4/2016||Citigroup Inc.||Downgrade||Market Perform||$14.00||N/A|
|3/2/2016||Barrington Research||Upgrade||Market Perform -> Outperform||$15.00||N/A|
|11/12/2015||Ladenburg Thalmann Financial Services||Reiterated Rating||Buy||$13.50||N/A|
Earnings History for Horizon Technology Finance Corporation (NASDAQ:HRZN)Earnings History by Quarter for Horizon Technology Finance Corporation (NASDAQ HRZN)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|8/1/2017||Q2 2017||$0.27||$0.24||$6.71 million||$5.88 million||View||Listen|
|5/2/2017||Q1 2017||$0.31||$0.29||$6.90 million||$6.96 million||View||Listen|
|3/7/2017||Q4 2016||$0.31||$0.33||$7.36 million||$7.00 million||View||Listen|
|11/1/2016||Q3||$0.35||$0.38||$8.34 million||$7.61 million||View||Listen|
|8/2/2016||Q2||$0.34||$0.39||$8.69 million||$9.09 million||View||Listen|
|5/3/2016||Q1||$0.35||$0.38||$8.62 million||$9.30 million||View||Listen|
|3/8/2016||Q4||$0.35||$0.35||$8.88 million||$8.56 million||View||N/A|
|11/3/2015||Q315||$0.32||$0.35||$8.18 million||$8.43 million||View||N/A|
|8/4/2015||Q215||$0.28||$0.25||$7.57 million||$6.86 million||View||N/A|
|5/5/2015||Q115||$0.33||$0.30||$7.13 million||$7.27 million||View||N/A|
|3/10/2015||Q414||$0.33||$0.33||$7.22 million||$7.30 million||View||N/A|
|11/4/2014||Q314||$0.32||$0.33||$7.65 million||$7.73 million||View||N/A|
|8/5/2014||Q214||$0.27||$0.19||$8.07 million||$8.69 million||View||N/A|
|5/6/2014||Q1 2014||$0.25||$0.26||$7.79 million||$7.53 million||View||N/A|
|3/11/2014||$0.36||$0.35||$7.91 million||$8.78 million||View||N/A|
|11/5/2013||Q313||$0.35||$0.36||$7.94 million||$8.71 million||View||N/A|
|8/6/2013||Q2 2013||$0.36||$0.38||$7.60 million||View||N/A|
|3/12/2013||Q4 2012||$0.35||$0.36||$7.27 million||$7.94 million||View||N/A|
|11/6/2012||Q312||$0.35||$0.33||$6.90 million||$6.62 million||View||N/A|
Earnings Estimates for Horizon Technology Finance Corporation (NASDAQ:HRZN)
2017 EPS Consensus Estimate: $1.07
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Horizon Technology Finance Corporation (NASDAQ:HRZN)
|Payout Ratio:||-749.95% (Trailing 12 Months of Earnings) |
109.09% (Based on This Year's Estimates)
106.19% (Based on Next Year's Estimates)
Dividend History by Quarter for Horizon Technology Finance Corporation (NASDAQ HRZN)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Horizon Technology Finance Corporation (NASDAQ:HRZN)
Insider Ownership Percentage: 1.30%Insider Trades by Quarter for Horizon Technology Finance Corporation (NASDAQ:HRZN)
Institutional Ownership Percentage: 18.15%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|5/22/2017||Elaine A Sarsynski||Director||Buy||2,000||$11.21||$22,420.00|| |
|5/8/2017||Joseph J Savage||Director||Buy||7,000||$11.27||$78,890.00|| |
|11/7/2016||Robert D Jr. Pomeroy||CEO||Buy||4,225||$10.50||$44,362.50|| |
|9/19/2016||Gerald A Michaud||President||Buy||225||$13.42||$3,019.50|| |
|3/23/2016||Joseph J Savage||Director||Buy||1,500||$11.57||$17,355.00|| |
|3/21/2016||Gerald A Michaud||President||Buy||1,960||$11.67||$22,873.20|| |
|3/16/2016||Robert D Jr. Pomeroy||CEO||Buy||2,000||$11.50||$23,000.00|| |
|12/21/2015||Robert D Jr. Pomeroy||CEO||Buy||1,800||$11.16||$20,088.00|| |
|12/18/2015||Gerald A Michaud||President||Buy||4,400||$11.54||$50,776.00|| |
|11/9/2015||Gerald A Michaud||President||Buy||4,500||$10.80||$48,600.00|| |
|11/9/2015||Robert D Jr. Pomeroy||CEO||Buy||5,000||$10.86||$54,300.00|| |
|8/25/2015||Christopher M Mathieu||CFO||Buy||3,000||$10.00||$30,000.00|| |
|8/17/2015||Gerald A Michaud||President||Buy||1,000||$11.00||$11,000.00|| |
|6/9/2015||Robert D Jr. Pomeroy||CEO||Buy||2,000||$13.54||$27,080.00|| |
|3/31/2015||Robert D Jr. Pomeroy||CEO||Buy||1,530||$13.92||$21,297.60|| |
|3/26/2015||Christopher B Woodward||Director||Buy||1,000||$13.67||$13,670.00|| |
|3/24/2015||Anholt Investments Ltd.||Major Shareholder||Sell||380,000||$13.95||$5,301,000.00|| |
|3/17/2014||Gerald Michaud||President||Buy||1,900||$12.86||$24,434.00|| |
|3/17/2014||Robert Jr. Pomeroy||CEO||Buy||1,500||$12.86||$19,290.00|| |
|11/13/2013||Robert Jr. Pomeroy||CEO||Buy||4,000||$14.07||$56,280.00|| |
|11/11/2013||Gerald Michaud||President||Buy||7,200||$13.89||$100,008.00|| |
|8/19/2013||Gerald Michaud||President||Buy||1,100||$13.63||$14,993.00|| |
|8/16/2013||Robert Jr. Pomeroy||CEO||Buy||1,000||$13.60||$13,600.00|| |
|12/5/2012||Gerald A Michaud||President||Buy||1,090||$13.86||$15,107.40|| |
|12/4/2012||Christopher M Mathieu||CFO||Buy||1,000||$13.99||$13,990.00|| |
|12/4/2012||David P Swanson||Director||Buy||2,000||$13.99||$27,980.00|| |
|9/12/2012||Christopher M Mathieu||CFO||Buy||1,000||$15.96||$15,960.00|| |
|8/29/2012||David P Swanson||Director||Buy||2,000||$16.50||$33,000.00|| |
Headline Trends for Horizon Technology Finance Corporation (NASDAQ:HRZN)
Latest Headlines for Horizon Technology Finance Corporation (NASDAQ:HRZN)
Horizon Technology Finance Corporation (HRZN) Chart for Tuesday, September, 26, 2017