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HRZN logo HRZN
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HRZN logo

Horizon Technology Finance (HRZN)

Upturn stock ratingUpturn stock rating
$6.88
Last Close (24-hour delay)
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PASS
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Upturn Advisory Summary

08/28/2025: HRZN (1-star) is currently NOT-A-BUY. Pass it for now.

Upturn Star Rating

rating

Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

Number of Analysts

rating

8 Analysts rated it

Limited analyst coverage, niche firm, research info may be scarce.

1 Year Target Price $6.75

1 Year Target Price $6.75

Analysts Price Target For last 52 week
$6.75 Target price
52w Low $6.66
Current$6.88
52w High $9.62

Analysis of Past Performance

Type Stock
Historic Profit -33.57%
Avg. Invested days 33
Today’s Advisory PASS
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 1.0
Stock Returns Performance Upturn Returns Performance 1.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 08/28/2025

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 293.57M USD
Price to earnings Ratio -
1Y Target Price 6.75
Price to earnings Ratio -
1Y Target Price 6.75
Volume (30-day avg) 8
Beta 0.98
52 Weeks Range 6.66 - 9.62
Updated Date 08/28/2025
52 Weeks Range 6.66 - 9.62
Updated Date 08/28/2025
Dividends yield (FY) 19.13%
Basic EPS (TTM) -1.19

Earnings Date

Report Date -
When -
Estimate -
Actual -

Profitability

Profit Margin -48.76%
Operating Margin (TTM) 81.66%

Management Effectiveness

Return on Assets (TTM) 6.52%
Return on Equity (TTM) -15.47%

Valuation

Trailing PE -
Forward PE 9.78
Enterprise Value 693188544
Price to Sales(TTM) 3.02
Enterprise Value 693188544
Price to Sales(TTM) 3.02
Enterprise Value to Revenue 11.11
Enterprise Value to EBITDA 13.46
Shares Outstanding 42545700
Shares Floating -
Shares Outstanding 42545700
Shares Floating -
Percent Insiders 1.26
Percent Institutions 6.6

ai summary icon Upturn AI SWOT

Horizon Technology Finance

stock logo

Company Overview

overview logo History and Background

Horizon Technology Finance Corporation (HRZN) was founded in 2003 and completed its IPO in 2010. The company primarily focuses on lending to and investing in venture capital-backed companies in the technology, life science, healthcare information and services, and clean tech industries. Over time, it has expanded its investment strategies and geographic reach.

business area logo Core Business Areas

  • Venture Lending: Provides secured loans to venture capital-backed companies, primarily in technology and life sciences. This includes term loans, bridge loans, and equipment financing.
  • Equity Investments: Makes strategic equity investments, often in conjunction with debt financing, to participate in the potential upside of its portfolio companies.

leadership logo Leadership and Structure

Robert Pomeroy is the Chairman and Chief Executive Officer. The company operates as a business development company (BDC), structured to provide financing to small and middle-market companies.

Top Products and Market Share

overview logo Key Offerings

  • Term Loans: Provides senior secured term loans ranging from $5 million to $30 million or more to venture-backed companies. These loans typically fund growth initiatives, acquisitions, or recapitalizations. Market share is difficult to pinpoint exactly but Horizon is a major player in venture debt. Key competitors include SLR Investment Corp and Trinity Capital.
  • Bridge Loans: Offers short-term financing solutions to help companies bridge gaps until they secure further funding. Horizon Technology Finance is not the only competitor, but it is a large player in this space.
  • Equipment Financing: Facilitates the acquisition of necessary equipment for growth-stage companies through lease financing. Many different players offer these services, but Horizon specializes in the technology and life science sectors.

Market Dynamics

industry overview logo Industry Overview

The venture debt market is driven by the need for growth capital among venture-backed companies that are often unprofitable and unable to secure traditional bank loans. The industry is cyclical, influenced by venture capital investment trends and macroeconomic conditions.

Positioning

Horizon Technology Finance is a specialist lender, focusing on high-growth companies in technology and life sciences. Its competitive advantage lies in its industry expertise, long-standing relationships with venture capital firms, and ability to structure flexible financing solutions.

Total Addressable Market (TAM)

The TAM for venture debt is difficult to quantify precisely but is estimated to be billions of dollars annually. Horizon is positioned to capture a significant portion of this market by focusing on specific sectors and offering tailored financing solutions.

Upturn SWOT Analysis

Strengths

  • Specialized industry expertise in technology and life sciences
  • Strong relationships with venture capital firms
  • Experienced management team
  • Established track record in venture lending

Weaknesses

  • High dependence on venture capital funding cycles
  • Exposure to credit risk from early-stage companies
  • Interest rate sensitivity
  • Relatively small market capitalization compared to larger financial institutions

Opportunities

  • Expanding into new technology sub-sectors
  • Increasing its equity investment portfolio
  • Forming strategic partnerships with other lenders and investors
  • Growing demand for venture debt as an alternative financing source

Threats

  • Economic downturns impacting venture capital funding
  • Increased competition from other lenders
  • Regulatory changes affecting BDCs
  • Rising interest rates increasing borrowing costs

Competitors and Market Share

competitor logo Key Competitors

  • SLR Investment Corp (SLRC)
  • Trinity Capital (TRIN)
  • Golub Capital BDC (GBDC)

Competitive Landscape

Horizon's advantages include sector expertise and VC relationships. Disadvantages include smaller size compared to some competitors.

Growth Trajectory and Initiatives

Historical Growth: Growth has been linked to the venture capital market. Expansion of the investment portfolio and strategic partnerships are critical factors.

Future Projections: Analyst projections depend on market conditions and company-specific factors. Look for analyst research on sites like Yahoo Finance.

Recent Initiatives: Recent initiatives may include strategic partnerships, new investment strategies, or expansion into new sectors. Review company press releases and investor presentations.

Summary

Horizon Technology Finance is a specialized lender focused on venture-backed companies. Their strength lies in their industry expertise and relationships, but they face risks from economic cycles and competition. The company's dividend yield is attractive to income-seeking investors. Horizon needs to carefully manage credit risk and interest rate sensitivity to ensure long-term stability. Future success depends on its ability to capitalize on growth opportunities and maintain a competitive edge.

Peer Comparison

Sources and Disclaimers

Data Sources:

  • Horizon Technology Finance Investor Relations
  • SEC filings (10-K, 10-Q)
  • Company Press Releases
  • Yahoo Finance
  • Analyst Reports

Disclaimers:

The information provided is for informational purposes only and should not be considered financial advice. Market share data is estimated and may not be precise. Consult with a qualified financial advisor before making investment decisions.

Upturn AI SummarizationUpturn AI Summarization AI Summarization is directionally correct and might not be accurate.

Upturn AI SummarizationUpturn AI Summarization Summarized information shown could be a few years old and not current.

Upturn AI SummarizationUpturn AI Summarization Fundamental Rating based on AI could be based on old data.

Upturn AI SummarizationUpturn AI Summarization AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.

About Horizon Technology Finance

Exchange NASDAQ
Headquaters Farmington, CT, United States
IPO Launch date 2010-10-29
CEO & Director Mr. Michael Phillip Balkin
Sector Financial Services
Industry Asset Management
Full time employees -
Full time employees -

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, cleantech and sustainability industries. It seeks to invest in companies in the United States.