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
Price-To-Earnings
Sales & Book Value
Annual Sales$31.09 million
Profitability
Miscellaneous
EmployeesN/A
Next Earnings Date10/29/2019 (Estimated)
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 announced a monthly dividend on Wednesday, May 1st. Stockholders of record on Thursday, July 18th will be paid a dividend of $0.10 per share on Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 10.05%. The ex-dividend date of this dividend is Wednesday, July 17th. View Horizon Technology Finance's Dividend History.
How were Horizon Technology Finance's earnings last quarter?
Horizon Technology Finance Corp (NASDAQ:HRZN) released its quarterly earnings data on Tuesday, July, 30th. The investment management company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.07. The investment management company had revenue of $10.47 million for the quarter. Horizon Technology Finance had a net margin of 42.51% and a return on equity of 11.02%. View Horizon Technology Finance's Earnings History.
When is Horizon Technology Finance's next earnings date?
What price target have analysts set for HRZN?
3 Wall Street analysts have issued twelve-month price targets for Horizon Technology Finance's stock. Their forecasts range from $10.00 to $13.00. On average, they anticipate Horizon Technology Finance's share price to reach $11.3333 in the next year. This suggests that the stock has a possible downside of 5.1%. View Analyst Price Targets for Horizon Technology Finance.
What is the consensus analysts' recommendation for Horizon Technology Finance?
3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Horizon Technology Finance in the last year. There are currently 1 sell rating, 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. Maxim Group analysts commented, "HRZN’s 2Q19 NII was $0.37 per share (helped by higher income related to liquidity events and waiver of some incentive fees) versus its dividend of $0.30. With a fifth consecutive quarter of portfolio growth (up 3.2% linked-quarter) and a strong pipeline of unfunded loan approvals (similar to 1Q19), HRZN is well-positioned to consistently cover its dividend with NII, in our view. We are maintaining our price target at $13, which equates to 1.12x NAV (previously 1.13x), inline with other high-quality BDCs." (8/6/2019)
- 2. National Securities analysts commented, " Horizon posted NII/share of $0.28 for 1Q19, below our estimate and the quarterly dividend of $0.30/share. Total repayments dipped to $18.6mm on the quarter compared with $37.9mm Q/Q which caused a drop in prepayment income, although increases in other fee income provided somewhat of an offset to this.
We note that Horizon had one loan of $15mm close on 3/31/19 and another $15mm loan close on 4/1/19. This interest income was obviously not recorded for the 3/31/19 quarter and will contribute to revenue fully for 2Q19. Additionally, Horizon has had quite a busy 6/30/19 quarter thus far. Including the 4/1/19 $15mm loan, the company closed on $72mm of new approvals and commitments. We think this portends stronger origination volume in 2Q19 and increased interest income.
The company had an onboarding yield of 11.9% versus a weighted average debt investment yield of 14.4%, with the delta being prepayment fees and other accelerated income. Last quarter, HRZN had a 12.1% onboarding yield for the quarter compared to a total weighted average debt yield of 16.7%. We note that lower weighted average debt yield is likely due to much lower prepayment fees and accelerated income that varies based upon prepayment activity.
Asset quality remains strong with no non-accruals since 4Q17. Origination volume has been robust and the company will also likely continue to grow its SLF which should be a tailwind for effective yield. However, given Horizon is a small venture lender we think it’s appropriate to apply a discount to NAV/share and thus we are maintaining our NEUTRAL rating. We are revising our 2019 NII/share estimate to $1.24 from $1.30 and our 2020 NII/share estimate to $1.32 from $1.33." (5/2/2019)
- 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. " (1/2/2019)
Has Horizon Technology Finance been receiving favorable news coverage?
News stories about HRZN stock have trended negative on Sunday, according to InfoTrie Sentiment Analysis. The research group identifies positive and negative news coverage by analyzing more than six thousand blog and news sources in real-time. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Horizon Technology Finance earned a news impact score of -2.3 on InfoTrie's scale. They also gave media stories about the investment management company a news buzz of 0.0 out of 10, meaning that recent news coverage is extremely unlikely to have an effect on the company's share price in the near term. View News Stories for Horizon Technology Finance.
Who are some of Horizon Technology Finance's key competitors?
Some companies that are related to Horizon Technology Finance include Western Asset Managed Municipals Fnd (MMU), Invesco California Value Mncpl Incm Trst (VCV), Templeton Dragon Fund (TDF), John Hancock Financial Opprts Fund (BTO), Blackrock Muniassets Fund (MUA), Putnam Premier Income Trust (PPT), BlackRock Debt Strategies Fund (DSU), The India Fund (IFN), Dreyfus Strategic Muni. (LEO), Dreyfus Strategic Municipal Bond Fund (DSM), Nuveen Pennsylvania Invsmt Qlty Mncpl Fd (NQP), BlackRock MuniYield New York Insured Fnd (MYN), BlackRock MuniHolding Insured Investm (MFL), Eaton Vance Municipal Income Trust (EVN) and Blackrock Muniyld California Quty Fd (MCA).
What other stocks do shareholders of Horizon Technology Finance own?
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
Who are Horizon Technology Finance's major shareholders?
Horizon Technology Finance's stock is owned by many different of retail and institutional investors. Top institutional investors include Virtus ETF Advisers LLC (1.19%), Morgan Stanley (0.31%), Wells Fargo & Company MN (0.24%), Royal Bank of Canada (0.17%) and CWM LLC (0.07%). 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?
Which institutional investors are buying Horizon Technology Finance stock?
HRZN stock was bought by a variety of institutional investors in the last quarter, including Virtus ETF Advisers LLC, CWM LLC, Wells Fargo & Company MN and Royal Bank of Canada. Company insiders that have bought Horizon Technology Finance 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.
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 $11.94.
How big of a company is Horizon Technology Finance?
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.
