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, and cleantech industries. It seeks to invest in companies in the United States.
Industry, Sector and Symbol
Industry Investment offices, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
SymbolNASDAQ:HRZN
CUSIP44045A10
Phone860-676-8654
Debt
Debt-to-Equity RatioN/A
Current Ratio0.20
Quick Ratio0.20
Price-To-Earnings
Trailing P/E Ratio9.45
Forward P/E Ratio9.36
P/E GrowthN/A
Sales & Book Value
Annual Sales$25.78 million
Price / Sales4.52
Cash Flow$1.1334 per share
Price / Cash8.92
Book Value$11.73 per share
Price / Book0.86
Profitability
EPS (Most Recent Fiscal Year)$1.07
Net Income$9.59 million
Net Margins32.86%
Return on Equity8.96%
Return on Assets5.58%
Miscellaneous
EmployeesN/A
Outstanding Shares11,520,000
Horizon Technology Finance (NASDAQ:HRZN) Frequently Asked Questions
What is Horizon Technology Finance's stock symbol?
Horizon Technology Finance trades on the NASDAQ under the ticker symbol "HRZN."
How often does Horizon Technology Finance pay dividends? What is the dividend yield for Horizon Technology Finance?
Horizon Technology Finance announced a monthly dividend on Thursday, May 3rd. Shareholders of record on Tuesday, June 19th will be paid a dividend of $0.10 per share on Tuesday, July 17th. This represents a $1.20 dividend on an annualized basis and a yield of 11.87%. The ex-dividend date of this dividend is Monday, June 18th. View Horizon Technology Finance's Dividend History.
How were Horizon Technology Finance's earnings last quarter?
Horizon Technology Finance Corp (NASDAQ:HRZN) announced its quarterly earnings results on Tuesday, May, 1st. The investment management company reported $0.28 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.30 by $0.02. The investment management company had revenue of $7.18 million for the quarter, compared to analysts' expectations of $7.18 million. Horizon Technology Finance had a net margin of 32.86% and a return on equity of 8.96%. View Horizon Technology Finance's Earnings History.
When is Horizon Technology Finance's next earnings date?
What price target have analysts set for HRZN?
7 Wall Street analysts have issued 1-year target prices for Horizon Technology Finance's stock. Their predictions range from $10.00 to $12.00. On average, they expect Horizon Technology Finance's share price to reach $11.00 in the next twelve months. View Analyst Ratings for Horizon Technology Finance.
What are Wall Street analysts saying about Horizon Technology Finance stock?
Here are some recent quotes from research analysts about Horizon Technology Finance stock:
- 1. 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. " (5/8/2018)
- 2. National Securities analysts commented, "• Horizon posted NII/share of $0.28 versus our estimate of $0.30. The earnings fell 2 cents shy of the $0.30/share quarterly dividend. Although the company experienced record originations last quarter that closed mostly in December and helped boost investment income materially in 1Q18, repayments of $15.5 million and sales of $2.7 million exceeded the $8.6 million of originations in 1Q18.
• We anticipate Horizon’s portfolio will grow modestly and balance sheet leverage should pick up, which would likely see the company earn its dividend on a NII basis. However, we expect the dividend to only be out-earned in 3Q19 while we expect NII to match the dividend for every other quarter from 2Q18 – 4Q19. Horizon seems to be cutting it close, in our opinion.
• While an increase in leverage could help HRZN augment its earnings further down the road, the company has not yet gotten Board or shareholder approval for the leverage increase and thus we do not yet model it into our assumptions.
• Horizon finished 3/31/18 with no investments on non-accrual status. Previous non-accrual Digital Signal was sold during 1Q18. Modest unrealized and realized losses drove a slight Q/Q NAV/share decline to $11.65 from $11.72 although we model a stable NAV/share through 2019. What is most concerning to us is that investments ranked “2” increased from 2.8% of the portfolio to 11.1% of the portfolio at fair value Q/Q. These are watch listed credits that are underperforming. Additionally, most of the move Q/Q was from a single investment: vTv Therapeutics.
• We are revising our 2018 NII/share estimate to $1.17 from $1.25 and our 2019 NII/share estimate to $1.20 from $1.19. " (5/3/2018)
- 3. Maxim Group analysts commented, "1Q18 NII was $0.28 per share versus the dividend of $0.30, partly due to a smaller investment portfolio (down 4.5%, driven by early payoffs). For the remainder of 2018, we expect a combination of modest portfolio growth plus the positive impact of higher interest rates to generate sufficient earnings to cover the dividend. Our $12 price target equates to 1.0x NAV. In our view, BDCs such as HRZN (focused on senior secured, floating rate loans with warrants) should not trade below a valuation level of 1.0x NAV in the current environment." (5/2/2018)
Who are some of Horizon Technology Finance's key competitors?
Some companies that are related to Horizon Technology Finance include Blackrock Muniyld California Quty Fd (MCA), MFS Intermediate Income Trust (MIN), Putnam Municipal Opportunities Trust (PMO), Deutsche Municipal Income Trust (KTF), Blackrock Muniyield Quality Fund (MQY), Market Vectors Biotech ETF (BBH), Tekla Life Sciences Investors (HQL), Strategic Global Government Fund Inc. Closed-End Fund (RCS), Morgan Stanley India Investment Fund (IIF), BlackRock MuniHoldings New Jersey Ins Fn (MUJ), MFS Multimarket Income Trust (MMT), Royce Micro Capital Trust (RMT), Blackrock Muniyield Michign Qulty Fd (MIY), Blackrock Muniholdings New York (MHN) and Putnam Managed Municipal Income Trust (PMM).
Who are Horizon Technology Finance's key executives?
Horizon Technology Finance's management team includes the folowing people:
- Mr. Robert D. Pomeroy Jr., Chairman & CEO (Age 67)
- Mr. Gerald A. Michaud, Pres & Director (Age 66)
- Mr. Daniel R. Trolio CPA, Sr. VP, Treasurer & CFO (Age 44)
- Mr. Daniel S. Devorsetz C.F.A., CFA, Sr. VP & Chief Investment Officer (Age 48)
- Ms. Leon Berman, Investor Relations Contact, The IGB Group
Has Horizon Technology Finance been receiving favorable news coverage?
Headlines about HRZN stock have trended positive on Thursday, Accern Sentiment reports. Accern identifies positive and negative media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Horizon Technology Finance earned a news impact score of 0.30 on Accern's scale. They also assigned news headlines about the investment management company an impact score of 45.94 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock's share price in the immediate future.
Who are Horizon Technology Finance's major shareholders?
Horizon Technology Finance's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include COMPASS HORIZON PARTNERS, LP (6.70%), COMPASS HORIZON PARTNERS, LP (5.70%), COMPASS HORIZON PARTNERS, LP (4.60%), COMPASS HORIZON PARTNERS, LP (3.60%), UBS Group AG (2.21%) and Guggenheim Capital LLC (1.45%). Company insiders that own Horizon Technology Finance stock include Elaine A Sarsynski, Gerald A Michaud, Joseph J Savage and Robert D Jr Pomeroy. View Institutional Ownership Trends for Horizon Technology Finance.
Which institutional investors are selling Horizon Technology Finance stock?
How do I buy shares of Horizon Technology Finance?
Shares of HRZN can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Horizon Technology Finance's stock price today?
One share of HRZN stock can currently be purchased for approximately $10.11.
How big of a company is Horizon Technology Finance?
Horizon Technology Finance has a market capitalization of $116.75 million and generates $25.78 million in revenue each year. The investment management company earns $9.59 million in net income (profit) each year or $1.07 on an earnings per share basis.
How can I contact Horizon Technology Finance?
Horizon Technology Finance's mailing address is 312 FARMINGTON AVENUE, FARMINGTON CT, 06032. The investment management company can be reached via phone at 860-676-8654.
MarketBeat Community Rating for Horizon Technology Finance (HRZN)
MarketBeat's community ratings are surveys of what our community members think about Horizon Technology Finance and other stocks. Vote "Outperform" if you believe HRZN will outperform the S&P 500 over the long term. Vote "Underperform" if you believe HRZN will underperform the S&P 500 over the long term. You may vote once every thirty days.
