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
Stock Exchange NASDAQ
Industry Investment offices, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
Current SymbolNASDAQ:HRZN
Previous Symbol
CUSIP44045A10
Phone860-676-8654
Debt
Debt-to-Equity RatioN/A
Current Ratio0.09
Quick Ratio0.09
Price-To-Earnings
Trailing P/E Ratio11.14
Forward P/E Ratio9.93
P/E GrowthN/A
Sales & Book Value
Annual Sales$25.78 million
Price / Sales5.33
Cash Flow$1.1429 per share
Price / Cash10.43
Book Value$11.66 per share
Price / Book1.02
Profitability
EPS (Most Recent Fiscal Year)$1.07
Net Income$9.59 million
Net Margins43.19%
Return on Equity9.14%
Return on Assets5.10%
Miscellaneous
EmployeesN/A
Outstanding Shares11,530,000
Market Cap$136.66 million
OptionableOptionable
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 declared a dividend on Friday, July 27th. Stockholders of record on Monday, November 19th will be paid a dividend of $0.10 per share on Friday, December 14th. The ex-dividend date is Friday, November 16th. View Horizon Technology Finance's Dividend History.
How were Horizon Technology Finance's earnings last quarter?
Horizon Technology Finance Corp (NASDAQ:HRZN) posted its earnings results on Tuesday, October, 30th. The investment management company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The investment management company had revenue of $7.80 million for the quarter, compared to the consensus estimate of $7.70 million. Horizon Technology Finance had a net margin of 43.19% and a return on equity of 9.14%. View Horizon Technology Finance's Earnings History.
When is Horizon Technology Finance's next earnings date?
What price target have analysts set for HRZN?
5 brokers have issued 12 month price objectives for Horizon Technology Finance's stock. Their predictions range from $10.00 to $12.00. On average, they anticipate Horizon Technology Finance's stock price to reach $11.00 in the next year. This suggests that the stock has a possible downside of 7.7%. View Analyst Price Targets for Horizon Technology Finance.
What is the consensus analysts' recommendation for Horizon Technology Finance?
5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Horizon Technology Finance in the last year. There are currently 3 sell ratings, 1 hold rating and 1 buy rating for the stock, resulting in a consensus recommendation of "Hold." 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. " (11/3/2018)
- 2. National Securities analysts commented, " Horizon posted NII/share of $0.30 for 3Q18, matching both our estimate as well as the quarterly dividend. The company had $24.2 million of originations versus sales and repayments of $11.9 million.
Notably, the SLF, which began in 1Q18, was flat on the quarter. Horizon didn’t give a lot of detail on why the JV didn’t grow but the on-balance sheet portfolio did. We expect that Arena (their partner) didn’t approve of the loans sourced during the quarter to go into the SLF. Going forward, we expect the SLF will be a tailwind for yield and earnings for HRZN.
The company introduced a breakpoint on the base fee along with the shareholder approval to increase leverage. HRZN will earn 160 bps on gross assets less cash over $250.0 million and 200 bps on assets less cash up to $250.0 million. This will enable shareholders to benefit from the reduced asset coverage, although we note that the breakpoint is not contingent on D/E but rather total assets less cash.
NAV/share was up 6 cents on the quarter to $11.66 as Horizon continues to have no investments on non-accrual and has not had non-accruals for all of 2018. The company will likely need to continue to exercise more caution going forward. On the earnings call, management noted that some of the deterioration in terms we have become accustomed to seeing in the middle market have made their way into venture lending as well.
HRZN has made good strides since 2017 with cleaning up its portfolio and improving dividend coverage. However, we think shares are in proximity to fair value as our $11 price target represents a 7% discount to our 4Q19 NAV/share estimate which we think is warranted for a small venture lender." (11/2/2018)
- 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)
Has Horizon Technology Finance been receiving favorable news coverage?
News stories about HRZN stock have trended somewhat negative recently, InfoTrie Sentiment reports. The research group rates the sentiment of media coverage by monitoring more than six thousand blog and news sources in real time. The firm ranks coverage of public companies on a scale of -5 to 5, with scores closest to five being the most favorable. Horizon Technology Finance earned a news sentiment score of -1.8 on InfoTrie's scale. They also gave news stories about the investment management company a news buzz of 10.0 out of 10, indicating that recent media coverage is extremely likely to have an effect on the company's share price in the near future.
Who are some of Horizon Technology Finance's key competitors?
Some companies that are related to Horizon Technology Finance include INVESCO VAN KAM/COM (VCV), Putnam Premier Income Trust (PPT), Western Asset Managed Municipals Fnd (MMU), Adams Natural Resources Fund (PEO), BlackRock MuniHolding Insured Investm (MFL), Nuveen Pennsylvania Invsmt Qlty Mncpl Fd (NQP), Blackrock Muniassets Fund (MUA), Dreyfus Strategic Muni. (LEO), BlackRock MuniYield New York Insured Fnd (MYN), Blackrock Muniyld California Quty Fd (MCA), MFS Intermediate Income Trust (MIN), Putnam Municipal Opportunities Trust (PMO), VanEck Vectors Biotech ETF (BBH), DWS Municipal Income Trust (KTF) and Blackrock Muniyield Quality Fund (MQY).
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 & CFO (Age 45)
- Mr. Daniel S. Devorsetz C.F.A., CFA, Sr. VP & Chief Investment Officer (Age 48)
- Mr. John C. Bombara, Sr. VP, Gen. Counsel, Sec. & Chief Compliance Office (Age 54)
Who are Horizon Technology Finance's major shareholders?
Horizon Technology Finance's stock is owned by a variety of of institutional and retail investors. Top institutional shareholders include LSV Asset Management (1.54%) and Bridgeway Capital Management Inc. (0.96%). 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 major 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 $11.92.
How big of a company is Horizon Technology Finance?
Horizon Technology Finance has a market capitalization of $136.66 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.
What is Horizon Technology Finance's official website?
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 (NASDAQ 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.
