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 Date5/7/2019 (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 declared a monthly dividend on Wednesday, March 6th. Shareholders of record on Thursday, April 18th will be paid a dividend of $0.10 per share on Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.33%. The ex-dividend date of this dividend is Wednesday, April 17th. 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, March, 5th. The investment management company reported $0.34 earnings per share for the quarter, meeting analysts' consensus estimates of $0.34. Horizon Technology Finance had a net margin of 41.85% and a return on equity of 10.33%. 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 brokers have issued 12-month target prices for Horizon Technology Finance's stock. Their predictions range from $10.00 to $13.50. On average, they anticipate Horizon Technology Finance's share price to reach $11.50 in the next year. This suggests that the stock has a possible downside of 1.0%. 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. National Securities analysts commented, "▪ Horizon earned NII/share of $0.34 for 4Q18, a penny above our estimate and comfortably above the $0.30/share quarterly dividend. Prepayment fees were $745K, up from $102K Q/Q and materially above our estimate for the quarter of $434K. Total principal repayments were outsized at $39.0mm on the quarter and $101.3mm on the year.
▪ The SLF’s assets grew to $26.4mm at year-end 2018 from $9.8mm the quarter prior. Notably, the company transferred $16.8mm of three new investments into the SLF which were all initially funded at HRZN. We expect that as the SLF grows and eventually taps its credit line that returns from this vehicle will improve and likely serve as a tailwind for earnings growth. While the SLF can go to 2.00x D/E, management discussed keeping the SLF leverage at around the same target of the balance sheet (0.80x-1.20x) although they might go slightly higher in the SLF.
▪ HRZN had a 12.1% onboarding yield for the quarter compared to a total weighted average debt yield of 16.7%. The delta between the two is comprised largely of ETP (end of term payments) and other fees. ETP and other fees are generally driven by the exit of portfolio companies and VCs are able to exit companies when equity valuations are higher. Thus, we think that a good portion of the total effective yield Horizon is able to earn is contingent upon valuation multiples and overall VC activity, both of which are somewhat volatile and difficult to forecast.
▪ Despite the portfolio being in good shape and the likely positive trajectory for earnings growth we remain NEUTRAL on shares with an $11 price target as we think a small venture lender in an aging credit cycle will likely command a modest NAV discount. We are revising our 2019 NII/share estimate to $1.30 from $1.26 and rolling out our 2020 NII/share estimate of $1.33." (3/7/2019)
- 2. 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)
- 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 been trending somewhat negative on Saturday, InfoTrie Sentiment reports. InfoTrie identifies negative and positive media coverage by reviewing 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 -1.4 on InfoTrie's scale. They also gave media coverage about the investment management company a news buzz of 0.0 out of 10, meaning that recent media coverage is extremely unlikely to have an impact on the stock'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 John Hancock Financial Opprts Fund (BTO), Western Asset Managed Municipals Fnd (MMU), BlackRock Debt Strategies Fund (DSU), Putnam Premier Income Trust (PPT), Blackrock Muniassets Fund (MUA), Adams Natural Resources Fund (PEO), Nuveen Pennsylvania Invsmt Qlty Mncpl Fd (NQP), Dreyfus Strategic Muni. (LEO), BlackRock MuniHolding Insured Investm (MFL), BlackRock MuniYield New York Insured Fnd (MYN), Blackrock Muniyld California Quty Fd (MCA), Strategic Global Government Fund Inc. Closed-End Fund (RCS), MFS Intermediate Income Trust (MIN), DWS Municipal Income Trust (KTF) and Blackrock Muniyield Quality Fund (MQY).
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 a number of of institutional and retail investors. Top institutional shareholders include Advisors Asset Management Inc. (2.08%), LSV Asset Management (1.45%), Two Sigma Advisers LP (0.58%), Two Sigma Investments LP (0.21%), Brown Advisory Securities LLC (0.15%) and Nuveen Fund Advisors LLC (0.14%). 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 Advisors Asset Management Inc.. 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 $11.62.
How big of a company is Horizon Technology Finance?
Horizon Technology Finance has a market capitalization of $134.09 million and generates $31.09 million in revenue each year. The investment management company earns $13.01 million in net income (profit) each year or $1.20 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.
