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
Phone860-676-8654
Debt
Current Ratio0.09
Quick Ratio0.09
Price-To-Earnings
Sales & Book Value
Annual Sales$25.78 million
Price / Sales5.32
Price / Cash Flow10.31
Price / Book1.01
Profitability
Net Income$9.59 million
Net Margins43.19%
Return on Assets5.10%
Miscellaneous
EmployeesN/A
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. Shareholders of record on Monday, November 19th will be given a dividend of $0.10 per share on Friday, December 14th. The ex-dividend date of this dividend 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) announced its earnings results on Tuesday, October, 30th. The investment management company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. The investment management company earned $7.80 million during the quarter, compared to the consensus estimate of $7.70 million. Horizon Technology Finance had a return on equity of 9.14% and a net margin of 43.19%. View Horizon Technology Finance's Earnings History.
When is Horizon Technology Finance's next earnings date?
What price target have analysts set for HRZN?
4 analysts have issued twelve-month price targets for Horizon Technology Finance's stock. Their forecasts range from $10.00 to $12.00. On average, they anticipate Horizon Technology Finance's stock price to reach $11.00 in the next twelve months. 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?
4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Horizon Technology Finance in the last year. There are currently 2 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. " (1/2/2019)
- 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 coverage about HRZN stock has been trending somewhat positive on Tuesday, according to InfoTrie. The research group rates the sentiment of news coverage by analyzing more than six thousand news and blog sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Horizon Technology Finance earned a news sentiment score of 0.6 on InfoTrie's scale. They also assigned news stories about the investment management company a news buzz of 2.0 out of 10, indicating that recent news coverage is very unlikely to have an effect on the company's share price in the next few days.
Who are some of Horizon Technology Finance's key competitors?
Some companies that are related to Horizon Technology Finance include Putnam Premier Income Trust (PPT), Blackrock Muniassets Fund (MUA), BlackRock MuniHolding Insured Investm (MFL), Nuveen Pennsylvania Invsmt Qlty Mncpl Fd (NQP), BlackRock MuniYield New York Insured Fnd (MYN), Dreyfus Strategic Muni. (LEO), Adams Natural Resources Fund (PEO), Blackrock Muniyld California Quty Fd (MCA), Putnam Municipal Opportunities Trust (PMO), MFS Intermediate Income Trust (MIN), Strategic Global Government Fund Inc. Closed-End Fund (RCS), DWS Municipal Income Trust (KTF), Blackrock Muniyield Quality Fund (MQY), VanEck Vectors Biotech ETF (BBH) and BlackRock MuniHoldings New Jersey Ins Fn (MUJ).
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 68)
- Mr. Gerald A. Michaud, Pres & Director (Age 67)
- Mr. Daniel R. Trolio CPA, Sr. VP & CFO (Age 46)
- Mr. Daniel S. Devorsetz C.F.A., CFA, Sr. VP & Chief Investment Officer (Age 49)
- Ms. Leon Berman, Investor Relations Contact, The IGB Group
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 $135.16 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.
