Horizon Technology Finance (HRZN) Panoramica del titolo
Horizon Technology Finance Corporation è una società di sviluppo aziendale specializzata in prestiti e investimenti in fase di sviluppo. Maggiori dettagli
| Punteggio fiocco di neve | |
|---|---|
| Valutazione | 2/6 |
| Crescita futura | 4/6 |
| Prestazioni passate | 1/6 |
| Salute finanziaria | 1/6 |
| Dividendi | 2/6 |
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Analyst Price Targets
Concorrenti di Horizon Technology Finance Corporation
Storia dei prezzi e prestazioni
| Prezzi storici delle azioni | |
|---|---|
| Prezzo attuale dell'azione | US$4.73 |
| Massimo di 52 settimane | US$8.46 |
| Minimo di 52 settimane | US$3.80 |
| Beta | 0.98 |
| Variazione di 1 mese | 3.73% |
| Variazione a 3 mesi | 10.51% |
| Variazione di 1 anno | -35.82% |
| Variazione a 3 anni | -61.76% |
| Variazione a 5 anni | -72.78% |
| Variazione dall'IPO | -69.66% |
Notizie e aggiornamenti recenti
Aggiornamento della narrazione • Jun 26
HRZN: Revised Profit Outlook And New Auditor Will Drive Future Repricing
The analyst price target for Horizon Technology Finance has been reduced to $4.25 from $4.50, as analysts factor in updated fair value assumptions, revised profit margin expectations, and a different future P/E outlook. What's in the News for Horizon Technology Finance The board dismissed RSM US LLP as Horizon Technology Finance's independent registered public accounting firm on May 13, 2026, and approved Grant Thornton LLP as the new independent registered accounting firm to audit the 2026 consolidated financial statements.Seeking Alpha • Jun 05
Horizon Technology Finance: Waiting For Improvements To Materialize
Summary Horizon Technology Finance is upgraded to Hold as portfolio structure shows potential for improvement and management demonstrates commitment through share repurchases. HRZN trades at a 33% discount to NAV, reflecting persistent portfolio and earnings weakness despite a high 15.5% dividend yield with thin coverage. Q1 results were disappointing: net investment income fell to $0.19/share, and interest income declined, but new investments and merger-driven equity injection offer cautious optimism. Dividends are currently supported by earnings and spillover income, but sustainability hinges on improved net investment income and portfolio growth over several quarters. Read the full article on Seeking AlphaRecent updates
Aggiornamento della narrazione • Jun 26
HRZN: Revised Profit Outlook And New Auditor Will Drive Future Repricing
The analyst price target for Horizon Technology Finance has been reduced to $4.25 from $4.50, as analysts factor in updated fair value assumptions, revised profit margin expectations, and a different future P/E outlook. What's in the News for Horizon Technology Finance The board dismissed RSM US LLP as Horizon Technology Finance's independent registered public accounting firm on May 13, 2026, and approved Grant Thornton LLP as the new independent registered accounting firm to audit the 2026 consolidated financial statements.Seeking Alpha • Jun 05
Horizon Technology Finance: Waiting For Improvements To Materialize
Summary Horizon Technology Finance is upgraded to Hold as portfolio structure shows potential for improvement and management demonstrates commitment through share repurchases. HRZN trades at a 33% discount to NAV, reflecting persistent portfolio and earnings weakness despite a high 15.5% dividend yield with thin coverage. Q1 results were disappointing: net investment income fell to $0.19/share, and interest income declined, but new investments and merger-driven equity injection offer cautious optimism. Dividends are currently supported by earnings and spillover income, but sustainability hinges on improved net investment income and portfolio growth over several quarters. Read the full article on Seeking Alpha
Nuova narrazione • Mar 28
Merger And Venture Loan Backlog Will Support Long Term AI And Defense Lending
Catalysts About Horizon Technology Finance Horizon Technology Finance provides venture lending to growing technology and life sciences companies, often alongside venture capital and institutional investors. What are the underlying business or industry changes driving this perspective?
Nuova narrazione • Mar 14
Venture Debt Demand And Monroe Merger Will Support Fairly Valued Long Term Prospects
Catalysts About Horizon Technology Finance Horizon Technology Finance is a business development company that provides venture loans and related equity-linked financing to growing technology and life sciences companies. What are the underlying business or industry changes driving this perspective?Seeking Alpha • Apr 23
Horizon Technology: One Of My Highest-Conviction No-Gos In The BDC Space
Summary Since December, 2023, I have been skeptical on Horizon Technology. During this time period, the BDC has registered a negative total return performance of 26%, while the BDC market has delivered a positive figure of 5%. As a result of these declines, HRZN trades at a discount and offers one of the highest dividend yields in the BDC sector. The question is whether HRZN is a buy now. In this article I discuss the details and arguments on why I remain skeptical on HRZN. Read the full article on Seeking AlphaSeeking Alpha • Mar 11
Horizon Technology Finance: Buy The Dip For Hefty Dividends And Steady Price Upside
Summary Horizon Technology's share price has bottomed out, presenting a prime buying opportunity for long-term investors due to improved market trends and financial metrics. The venture capital market's robust recovery and Horizon's aggressive growth strategy are expected to drive investment income and portfolio growth. Horizon Technology's dividend yield of over 14% is secure, supported by strong liquidity and investment income covering dividend payments. Despite current quant ratings, Horizon's stock is undervalued, trading at 7.5x forward earnings, offering an attractive entry point for investors seeking steady growth and high dividends. Read the full article on Seeking AlphaSeeking Alpha • Dec 28
Horizon Technology: The Dividend Is No Longer Supported
Summary Horizon Technology Finance struggles with poor dividend coverage, deteriorating net investment income, and high non-accrual rates, leading to a sell rating. HRZN's concentrated focus on life sciences and healthcare, coupled with a small portfolio size, makes it vulnerable in high-interest rate environments. Despite a high dividend yield of 14.7%, HRZN's financials are weak, and a dividend cut is likely in 2025. Better BDC options like Main Street Capital, Blue Owl Capital, and Gladstone Investment offer superior dividend coverage and performance. Read the full article on Seeking AlphaSeeking Alpha • Oct 29
8.19% From Horizon Baby Bonds Comes With Low Duration And Decent Credit Score
Summary Horizon Technology Finance Corp. 6.25% Notes due 06/15/2027 offer an 8.19% YTM, which is attractive in today's overbought market. HTFC's credit spread to treasuries stands at around 4%, indicating normal pricing rather than a bargain. HRZN's debt portfolio yield of 15.9% implies high credit risk, but the company's leverage limit boosts its credibility. HTFC's 8% yield is a rare find in the current market, making it a decent addition to a low-duration portfolio. Read the full article on Seeking AlphaSeeking Alpha • Aug 17
Horizon Technology: Edging Closer To A Potential Dividend Cut
Summary HRZN has underperformed the BDC market since my initial relatively bearish thesis back in December, 2023. After digesting Q2, 2024 earnings results, the case has gone from bad to worse. In this article I elaborate on the key reasons why I continue to remain pessimistic on HRZN and share my view on the potential dividend cut. Read the full article on Seeking AlphaSeeking Alpha • Aug 11
Horizon Technology Finance: Drop In Earnings Could Result In Distribution Cut (Rating Downgrade)
Summary Horizon Technology Finance operates as a BDC with a dividend yield of about 12.1%, making it attractive for income investors. However, the distribution may be vulnerable. Net investment income is down on a year over year basis. Future interest rate cuts could further reduce NII per share. The price still trades at a high premium to NAV. I believe this premium is unjustified when looking at the portfolio's performance. A price reduction is needed. The portfolio credit quality continues to deteriorate quarter over quarter. Read the full article on Seeking AlphaSeeking Alpha • Jun 21
Horizon Technology: The Risks Have Increased, While Yield Has Remained Unattractive
Summary Horizon Technology Finance has underperformed the BDC market by 15% since December, with worsening portfolio quality and yield compression. Q1, 2024 earnings report shows continued decline in net investment income, with NAV dropping and portfolio stagnating at lower yield levels. Despite sourcing fresh equity, HRZN's underlying portfolio profile has deteriorated, making it still a risky investment choice with uncertain fundamentals. Read the full article on Seeking AlphaSeeking Alpha • May 20
Horizon Technology Finance: Attractive Price Entry Offset By Drop In Portfolio Quality
Summary Horizon Technology Finance has a dividend yield of 11.4% and distributions are issued on a monthly basis, making this an attractive choice for income investors. The price has come since Q4 of 2023 due to the worsening credit quality of investment portfolio. This could be offset by investments made in Q1 of 2024. The price trades at a premium to NAV of nearly 20%, despite the price drop. Read the full article on Seeking AlphaSeeking Alpha • Apr 19
Horizon Technology Finance: This 12% Yield Is Not As Risky As It Looks (Rating Upgrade)
Summary Horizon Technology Finance is a well-managed BDC focused on technology and life science investments. The BDC's stock has weakened in 2024 due to concerns about investment losses in the sector. Despite the decline in valuation, the 12% dividend yield is safer than it appears, and there is potential for re-rating upside. Read the full article on Seeking AlphaSeeking Alpha • Mar 21
Horizon Technology Finance: Still Too Expensive After The Price Correction
Summary Horizon Technology Finance has underperformed the BDC index and lost a tangible chunk of its market cap since the issuance of my bearish thesis. Looking at the fundamentals, it is clear that the price correction has been fully justified. Despite the drop, I still consider Horizon Technology Finance an unattractive case going forward. In this article, I will highlight the key factors of Q4, 2023 that triggered negative market reaction and lay out my thoughts on how I see Horizon Technology Finance as an investment. Read the full article on Seeking AlphaSeeking Alpha • Mar 15
Horizon Technology: Time To Be Careful (Rating Downgrade)
Summary Horizon Technology reported better than expected NII for Q4 and supported its dividend with net investment income. The BDC reported a near-7% drop in net asset value due to investment losses. Because of soaring NII, Horizon Technology disclosed a higher dividend safety margin. The dividend should be safe in the short term, but the risk profile has deteriorated. Read the full article on Seeking AlphaSeeking Alpha • Feb 20
Horizon Technology: High-Quality BDC But Overvalued
Summary Horizon Technology is a BDC with a diverse portfolio made up of 99% floating loans and a dividend yield of nearly 10%. The company focuses on providing loans and investments to companies in their development stages, primarily in the technology and life sciences industries. HRZN has strong financials, with significant growth in net investment income and a low historical loss rate, but its current premium to NAV makes it a hold for now. Read the full article on Seeking AlphaSeeking Alpha • Jan 23
Horizon Technology: A 10% Yield For Long-Term Investors
Summary Horizon Technology Finance is a well-run BDC that invests in neglected technology and life sciences companies. The BDC focuses on a small number of industries, providing secured loans to venture capital-backed companies. HRZN has seen a strong trend in net investment income in FY 2023. Last week's portfolio update shows that the portfolio is growing. Shares are trading at a significant premium to NAV, but the dividend is well-supported by NII. Read the full article on Seeking AlphaSeeking Alpha • Jan 15
Horizon Technology: New Year, More Monthly Dividends
Summary Horizon Technology Finance offers investors monthly dividend payments, providing recurring income to match fund living expenses. The stock has performed well, outperforming the S&P 500 and other peers in the past decade. HRZN has a healthy payout ratio and potential for special dividends due to NII growth, and could benefit from elevated funding needs amidst a slow IPO market. Read the full article on Seeking AlphaSeeking Alpha • Oct 11
Horizon Technology Finance provides $30M of growth capital to Kodiak Robotics
Horizon Technology Finance (NASDAQ:HRZN) has provided $30M to Kodiak Robotics in the form of a growth capital credit facility. Kodiak is a leading developer of self-driving long-haul trucks designed to make the freight industry safer and more efficient. "Kodiak is on the forefront of autonomous driving for commercial vehicles, providing innovative freight solutions which can fundamentally change supply chains for the better. We are excited to support Kodiak as it further expands its suite of solutions and revolutionizes how we think about the future of freight transport." said Gerald A. Michaud, President of Horizon.Seeking Alpha • Aug 02
Horizon Technology Finance GAAP EPS of $0.35 beats by $0.01, revenue of $18.59M beats by $1.7M
Horizon Technology Finance press release (NASDAQ:HRZN): Q2 GAAP EPS of $0.35 beats by $0.01. Revenue of $18.59M (+37.9% Y/Y) beats by $1.7M. "With our growth, we remain focused on credit quality and are pleased to have maintained a steady credit profile, with 96% of the principal of HRZN's loan portfolio 3-rated or better, Our origination and credit results have allowed us to increase HRZN's lending capacity through the debt capital provided by HRZN's issuance of its 2027 Notes and accessing its at-the-market equity sales program. We believe HRZN remains well positioned for sustainable and disciplined growth, and to deliver attractive risk-adjusted returns to its shareholders over the long-term."Seeking Alpha • Jun 30
Horizon Technology Finance: Put This 10.4% Yield On Your Radar
HRZN is a small and growing BDC that's demonstrating strong portfolio yields. It's well positioned to fund its pipeline and has a large addressable market. It maintains a strong balance sheet, and the recent share price weakness has pushed the dividend yield to an attractive level. High-yield investing has admittedly become rather easy in recent weeks, with even some blue-chip names such as Altria (MO) throwing off a near 9% yield. It's easy to become jaded, however, as one may accept that this is the new norm, especially considering the current inflationary environment. If history is of any indicator, however, it's that high dividends may not last forever, and that now may be a good time to buy more of one's favorite stocks while also diversifying into other income sources. This brings me to Horizon Technology Finance (HRZN), which now yields 10.4%, after having fallen from the $16 level just earlier this year to just $11.55 at present. In this article, I highlight what makes HRZN a potentially good income portfolio diversifier, so let's get started. Why HRZN? Horizon Technology Finance is an externally-managed BDC that provides secured loans to venture capital and private equity backed growth companies in the technology, life science, and healthcare information and services industries. HRZN's portfolio is well-balanced by industry, with 41% of portfolio fair value allocated to technology, 43% to life science, 12% to sustainability, and the remaining 3% to healthcare information systems. As shown below, most of HRZN's portfolio is allocated to companies in the less risky expansion and later stages, signaling maturity and more line of sight. HRZN Portfolio Mix (Investor Presentation) This strategy has served HRZN well, as demonstrated by its strong total returns over the past 5 years, with a 105% total return from 3/31/2017 to 3/31/2022, beating the 33% total return of the ETRACS BDC Index, as shown below. HRZN Total Return (Investor Presentation) Meanwhile, HRZN is seeing solid underlying fundamentals, with a high 14.9% average debt portfolio yield over the trailing 12 months, although this has cooled a bit to a still robust 12.4% during the first quarter. HRZN is also seeing impressive portfolio growth of 36% over the past year, to $515 million. Moreover, HRZN maintains a low risk profile, considering that its borrowers have on average a low 20% loan to value ratio, comparing favorably to the 80% LTV average for mid-market loans. This low-risk approach is reflected by the fact that HRZN has just one investment, MacuLogix, on non-accrual, with management expecting for it to resolve itself over the current and next quarter while injecting a small amount of liquidity to make it happen. Plus, management estimates that nearly 96% of the portfolio carries a safe 3-rating or better. Notably, HRZN is currently under-earning its $0.30 quarterly dividend rate (paid monthly) with $0.26 NII per share during the first quarter, having to do with seasonably light prepayments. However, HRZN has plenty of cushioning to cover its dividend rate, with $0.47 per share of undistributed spillover income from prior portfolio liquidity events. It also has a large addressable market and plenty of firepower to fund its pipeline, with a low 0.9x debt to equity ratio, sitting well below the 2.0x statutory limit. This was reflected by management during the recent conference call: Our advisor continues to enhance the Horizon platform with additional hires and promoting members of its team into key management positions, ensuring we remain on course to generate future growth and continued profitability. The benefits of the Horizon platform include: an expanded lending platform and the power of the Horizon brand to access a larger number of investment opportunities, a pipeline of investments that has never been larger, enhanced capacity to execute on a backlog of commitments and new opportunities and an experienced that is cycle-tested and fully prepared to manage through potential macro or economic headwinds.Seeking Alpha • Apr 17
Horizon Technology Finance: An 8.46% Yield You Cannot Miss
HRZN is investing in sectors that are expected to grow by high single-digit numbers in the upcoming years. The company is yielding at 8.46%, higher than almost at any other time in the last 12 months. Buying HRZN at this price is for a bit more risk-takers because the company trades 1.23x its NAV per share.Seeking Alpha • Jan 28
Horizon Technology Finance: 8.3% Yield, Have Your Money Work For You
Horizon Technology Finance is seeing strong business fundamentals and a growing NAV/share. It has a robust deal pipeline and has a large addressable market in the technology and life sciences space. Meanwhile, it maintains a strong balance sheet and pays a well-covered dividend. Recent price weakness presents an opportunity.Seeking Alpha • Nov 16
Horizon Technology Finance: Strong Results And Dividend, But On The Expensive Side
HRZN recently reported positive Q3 results. They also announced a special dividend. This BDC currently yields 6.88%, so the special is a bonus to an already high yield. Despite these solid results, HRZN is trading at quite a high valuation at this time.Seeking Alpha • Oct 13
Horizon Technology Finance: Income From Venture Growth, But At A Steep Premium
Horizon Technology Finance continues to grow its loan portfolio to venture-stage clients, with a record value of new loans closed in Q3. It has managed to reduce its own cost of capital as it rolled over debt and raised funds through its ATM as the shares have moved up. The market has valued the shares with a top-notch premium, currently more than 50% higher than its NAV.Seeking Alpha • Aug 01
7% Yield: Horizon Technology Finance Pays You Monthly With No Non-Accruals
Horizon Technology Finance is just one of a few BDCs that invests in the attractive technology and life science space. It generates a higher portfolio yield than most BDCs and is seeing an improving NAV/share. I also highlight the dividend, balance sheet, valuation, and make a recommendation.Rendimenti per gli azionisti
| HRZN | US Capital Markets | US Mercato | |
|---|---|---|---|
| 7D | 11.0% | 0.6% | 1.6% |
| 1Y | -35.8% | 0.9% | 21.1% |
Ritorno vs Industria: HRZN ha avuto una performance inferiore rispetto al US Capital Markets che ha registrato un rendimento 0.9 % nell'ultimo anno.
Rendimento vs Mercato: HRZN ha avuto una performance inferiore al mercato US che ha registrato un rendimento 21.1 % nell'ultimo anno.
Volatilità dei prezzi
| HRZN volatility | |
|---|---|
| HRZN Average Weekly Movement | 7.1% |
| Capital Markets Industry Average Movement | 3.8% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.7% |
| 10% least volatile stocks in US Market | 3.1% |
Prezzo delle azioni stabile: HRZN non ha avuto una volatilità dei prezzi significativa negli ultimi 3 mesi rispetto al mercato US.
Volatilità nel tempo: La volatilità settimanale ( 7% ) di HRZN è rimasta stabile nell'ultimo anno.
Informazioni sull'azienda
| Fondato | I dipendenti | AMMINISTRATORE DELEGATO | Sito web |
|---|---|---|---|
| 2008 | n/a | Mike Balkin | n/a |
Horizon Technology Finance Corporation è una società di sviluppo aziendale specializzata in prestiti e investimenti in fase di sviluppo. Si concentra sulla concessione di debiti garantiti e sugli investimenti in prestiti di rischio a società sostenute da capitale di rischio nei settori della tecnologia, delle scienze della vita, delle informazioni e dei servizi sanitari, delle tecnologie pulite e della sostenibilità. Cerca di investire in aziende negli Stati Uniti.
Horizon Technology Finance Corporation Riepilogo dei fondamenti
| HRZN statistiche fondamentali | |
|---|---|
| Capitalizzazione di mercato | US$322.88m |
| Utili (TTM) | US$21.55m |
| Ricavi(TTM) | US$95.58m |
15.0x
Rapporto P/E3.4x
Rapporto P/SHRZN è sopravvalutato?
Vedi Fair Value e analisi di valutazioneUtili e ricavi
| HRZN Conto economico (TTM) | |
|---|---|
| Ricavi | US$95.58m |
| Costo del fatturato | US$0 |
| Profitto lordo | US$95.58m |
| Altre spese | US$74.03m |
| Utili | US$21.55m |
Ultimi utili riportati
Mar 31, 2026
Prossima data di guadagno
n/a
| Utile per azione (EPS) | 0.32 |
| Margine lordo | 100.00% |
| Margine di profitto netto | 22.55% |
| Rapporto debito/patrimonio netto | 133.9% |
Come si è comportato HRZN nel lungo periodo?
Vedi performance storica e confrontoDividendi
15.2%
Rendimento attuale del dividendo260%
Rapporto di remunerazioneHRZN paga dividendi affidabili?
Vedere la storia dei dividendi e i benchmark di HRZN| Horizon Technology Finance date dei dividendi | |
|---|---|
| Data di stacco del dividendo | Jun 17 2026 |
| Data di pagamento dei dividendi | Jul 15 2026 |
| Giorni fino al dividendo Ex | 16 days |
| Giorni prima della data di pagamento dei dividendi | 12 days |
HRZN paga dividendi affidabili?
Vedere la storia dei dividendi e i benchmark di HRZNAnalisi aziendale e situazione dei dati finanziari
| Dati | Ultimo aggiornamento (ora UTC) |
|---|---|
| Analisi dell'azienda | 2026/07/01 19:56 |
| Prezzo dell'azione a fine giornata | 2026/07/01 00:00 |
| Utili | 2026/03/31 |
| Utili annuali | 2025/12/31 |
Fonti dei dati
I dati utilizzati nella nostra analisi aziendale provengono da S&P Global Market Intelligence LLC. I seguenti dati sono utilizzati nel nostro modello di analisi per generare questo report. I dati sono normalizzati, il che può comportare un ritardo nella disponibilità della fonte.
| Pacchetto | Dati | Tempistica | Esempio Fonte USA * |
|---|---|---|---|
| Dati finanziari della società | 10 anni |
| |
| Stime di consenso degli analisti | +3 anni |
|
|
| Prezzi di mercato | 30 anni |
| |
| Proprietà | 10 anni |
| |
| Gestione | 10 anni |
| |
| Sviluppi principali | 10 anni |
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* Esempio per i titoli statunitensi, per i titoli non statunitensi si utilizzano forme e fonti normative equivalenti.
Se non specificato, tutti i dati finanziari si basano su un periodo annuale ma vengono aggiornati trimestralmente. Si tratta dei cosiddetti dati TTM (Trailing Twelve Month) o LTM (Last Twelve Month). Per saperne di più.
Modello di analisi e Snowflake
I dettagli del modello di analisi utilizzato per generare questo report sono disponibili sulla nostra pagina Github; disponiamo inoltre di guide su come utilizzare i nostri report e di tutorial su Youtube.
Scoprite il team di livello mondiale che ha progettato e realizzato il modello di analisi Simply Wall St.
Metriche di settore e industriali
Le nostre metriche di settore e di sezione sono calcolate ogni 6 ore da Simply Wall St; i dettagli del nostro processo sono disponibili su Github.
Fonti analitiche
Horizon Technology Finance Corporation è coperta da 13 analisti. 4 di questi analisti ha fornito le stime di fatturato o di utile utilizzate come input per il nostro report. Le stime degli analisti vengono aggiornate nel corso della giornata.
| Analista | Istituzione |
|---|---|
| Sean-Paul Adams | B. Riley Securities, Inc. |
| Christopher York | Citizens JMP Securities, LLC |
| Rahul Agarwal | Guggenheim Securities, LLC |