HRZN Community Fair Values
Create NarrativeSee what 21 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Horizon Technology Finance Corporation 경쟁사
가격 이력 및 성과
| 과거 주가 | |
|---|---|
| 현재 주가 | US$4.32 |
| 52주 최고가 | US$8.27 |
| 52주 최저가 | US$3.80 |
| 베타 | 0.96 |
| 1개월 변동 | -2.04% |
| 3개월 변동 | 10.77% |
| 1년 변동 | -47.06% |
| 3년 변동 | -67.22% |
| 5년 변동 | -74.99% |
| IPO 이후 변동 | -72.29% |
최근 뉴스 및 업데이트
내러티브 업데이트 • 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
내러티브 업데이트 • 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
새로운 내러티브 • 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?
새로운 내러티브 • 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.주주 수익률
| HRZN | US Capital Markets | US 시장 | |
|---|---|---|---|
| 7D | -5.3% | 1.4% | -0.7% |
| 1Y | -47.1% | 1.1% | 15.3% |
수익률 대 산업: HRZN은 지난 1년 동안 1.1%의 수익을 기록한 US Capital Markets 산업보다 저조한 성과를 냈습니다.
수익률 대 시장: HRZN은 지난 1년 동안 15.3%를 기록한 US 시장보다 저조한 성과를 냈습니다.
주가 변동성
| HRZN volatility | |
|---|---|
| HRZN Average Weekly Movement | 6.2% |
| Capital Markets Industry Average Movement | 3.8% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.1% |
| 10% least volatile stocks in US Market | 3.2% |
안정적인 주가: HRZN는 지난 3개월 동안 US 시장에 비해 주가 변동성이 크지 않았습니다.
시간에 따른 변동성: HRZN의 주간 변동성(6%)은 지난 1년 동안 안정적이었습니다.
회사 소개
| 설립 | 직원 수 | CEO | 웹사이트 |
|---|---|---|---|
| 2008 | n/a | Mike Balkin | n/a |
호라이즌 테크놀로지 파이낸스 코퍼레이션은 대출 및 개발 단계 투자를 전문으로 하는 사업 개발 회사입니다. 기술, 생명 과학, 의료 정보 및 서비스, 청정 기술 및 지속 가능성 산업의 벤처 캐피탈 지원 기업에 대한 담보 대출 및 벤처 대출 투자에 중점을 두고 있습니다. 주로 미국 내 기업에 투자합니다.
Horizon Technology Finance Corporation 기초 지표 요약
| HRZN 기초 통계 | |
|---|---|
| 시가총액 | US$294.21m |
| 순이익 (TTM) | US$21.55m |
| 매출 (TTM) | US$95.58m |
13.7x
주가수익비율(P/E)3.1x
주가매출비율(P/S)HRZN는 고평가되어 있습니까?
공정 가치 및 평가 분석 보기순이익 및 매출
| HRZN 손익계산서 (TTM) | |
|---|---|
| 매출 | US$95.58m |
| 매출원가 | US$0 |
| 총이익 | US$95.58m |
| 기타 비용 | US$74.03m |
| 순이익 | US$21.55m |
최근 보고된 실적
Mar 31, 2026
다음 실적 발표일
Aug 04, 2026
| 주당순이익(EPS) | 0.32 |
| 총이익률 | 100.00% |
| 순이익률 | 22.55% |
| 부채/자본 비율 | 133.9% |
HRZN의 장기 실적은 어땠습니까?
과거 실적 및 비교 보기| Horizon Technology Finance 배당 일정 | |
|---|---|
| 배당락일 | Jul 16 2026 |
| 배당 지급일 | Aug 14 2026 |
| 배당락일까지 남은 일수 | 13 days |
| 배당 지급일까지 남은 일수 | 16 days |
HRZN는 안정적으로 배당을 지급합니까?
HRZN 배당 기록 및 벤치마크 보기기업 분석 및 재무 데이터 상태
| 데이터 | 최종 업데이트 (UTC 시간) |
|---|---|
| 기업 분석 | 2026/07/28 23:45 |
| 종가 | 2026/07/28 00:00 |
| 수익 | 2026/03/31 |
| 연간 수익 | 2025/12/31 |
데이터 소스
당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.
| 패키지 | 데이터 | 기간 | 미국 소스 예시 * |
|---|---|---|---|
| 기업 재무제표 | 10년 |
| |
| 분석가 컨센서스 추정치 | +3년 |
|
|
| 시장 가격 | 30년 |
| |
| 지분 구조 | 10년 |
| |
| 경영진 | 10년 |
| |
| 주요 개발 | 10년 |
|
* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.
별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.
분석 모델 및 스노우플레이크
이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.
Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.
산업 및 섹터 지표
산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.
분석가 소스
Horizon Technology Finance Corporation는 13명의 분석가가 다루고 있습니다. 이 중 4명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.
| 분석가 | 기관 |
|---|---|
| Sean-Paul Adams | B. Riley Securities, Inc. |
| Christopher York | Citizens JMP Securities, LLC |
| Rahul Agarwal | Guggenheim Securities, LLC |