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
SymbolNASDAQ:HRZN
CUSIP44045A10
Phone860-676-8654
Debt
Debt-to-Equity RatioN/A
Current Ratio0.14
Quick Ratio0.14
Price-To-Earnings
Trailing P/E Ratio10.54
Forward P/E Ratio9.89
P/E GrowthN/A
Sales & Book Value
Annual Sales$25.78 million
Price / Sales5.04
Cash Flow$1.1417 per share
Price / Cash9.88
Book Value$11.73 per share
Price / Book0.96
Profitability
EPS (Most Recent Fiscal Year)$1.07
Net Income$9.59 million
Net Margins39.15%
Return on Equity9.41%
Return on Assets5.54%
Miscellaneous
EmployeesN/A
Outstanding Shares11,530,000
Market Cap$129.48 million
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 dividend on Friday, July 27th. Stockholders of record on Tuesday, September 18th will be paid a dividend of $0.10 per share on Tuesday, October 16th. The ex-dividend date is Monday, September 17th. 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, July, 31st. The investment management company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.26 by $0.03. The investment management company had revenue of $7.31 million for the quarter, compared to analyst estimates of $7.20 million. Horizon Technology Finance had a net margin of 39.15% and a return on equity of 9.41%. 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 Wall Street analysts have issued 1-year price targets for Horizon Technology Finance's stock. Their predictions range from $11.00 to $12.00. On average, they anticipate Horizon Technology Finance's stock price to reach $11.50 in the next twelve months. This suggests a possible upside of 2.0% from the stock's current price. 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 2 sell ratings, 2 hold ratings 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, " HRZN earned $0.29/share of NII for 2Q19, ahead of consensus by a penny but just short of the $0.30/share quarterly dividend. We expect that Horizon will earn its dividend next quarter and that increased balance sheet leverage will serve to improve dividend coverage through 2019.
While the dividend should be earned courtesy of increased leverage and thus NII ROAE, we note that looking past 2019 incremental leverage should lead to less earnings power as base fees increase and eat into what ultimately will fall to the bottom line for shareholders.
We think D/E will average 0.78x for 2018 and 0.88x for 2019. Accordingly, we think NII ROAE will improve by 90 bps Y/Y in 2019 as a result of the increased average leverage on the balance sheet.
Horizon began a SLF (senior loan fund) during the quarter and expects the vehicle to leverage up and continue to make new investments. We expect capital allocation to be prioritized to the SLF over the next six quarters and think that the vehicle will start to positively impact effective yield in fiscal 2Q19.
HRZN’s NAV/share dipped 5 cents Q/Q to $11.60 although credit quality remained stable with no non-accruals. We expect NAV/share to remain relatively stable and finish 2018 at $11.65 and 2019 at $11.70.
Our $11 price target represents a 6% discount to our 4Q19 NAV/share estimate which we believe is fair given HRZN’s track record and the fact that it is a venture debt lender which entails a greater degree of risk than middle market cash flow lending, in our opinion. We are maintaining our 2018 NII/share estimate of $1.17 and revising our 2019 NII/share estimate to $1.23 from $1.20." (8/6/2018)
- 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. " (8/3/2018)
- 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 Muniassets Fund (MUA), Nuveen Pennsylvania Invsmt Qlty Mncpl Fd (NQP), BlackRock MuniHolding Insured Investm (MFL), VanEck Vectors Biotech ETF (BBH), Dreyfus Strategic Muni. (LEO), BlackRock MuniYield New York Insured Fnd (MYN), Tekla Life Sciences Investors (HQL), Blackrock Muniyld California Quty Fd (MCA), MFS Intermediate Income Trust (MIN), Putnam Municipal Opportunities Trust (PMO), Blackrock Muniyield Quality Fund (MQY), Deutsche Municipal Income Trust (KTF), Strategic Global Government Fund Inc. Closed-End Fund (RCS), Royce Micro Capital Trust (RMT) 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 67)
- Mr. Gerald A. Michaud, Pres & Director (Age 66)
- Mr. Daniel R. Trolio CPA, Sr. VP, Treasurer & 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 number of of retail and institutional investors. Top institutional shareholders include Advisors Asset Management Inc. (2.12%), Macquarie Group Ltd. (0.30%) and Advisors Asset Management Inc. (0.04%). 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 $11.28.
How big of a company is Horizon Technology Finance?
Horizon Technology Finance has a market capitalization of $129.48 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.
