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Horizon Technology Finance(HRZN)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for HRZN
11/03/2026: HRZN (1-star) is currently NOT-A-BUY. Pass it for now.
Horizon Technology Finance is a specialized Business Development Company focused on providing venture debt to technology and life science startups. By targeting companies backed by institutional venture capital, the firm aims to generate consistent income for shareholders through interest and fee payments. Its primary strength lies in its domain expertise and focus on senior secured lending, though it remains sensitive to the health of the venture capital funding cycle and potential borrower defaults. Investors should monitor portfolio credit quality and VC market trends closely. This stock is best suited for income-oriented investors seeking high yield, acknowledging the inherent risks of financing early-stage enterprises.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Weak fit | The company's focus is on income generation via debt rather than aggressive capital appreciation typical of growth stocks. |
| Momentum investor | Mixed fit | Momentum investors may find the BDC sector attractive during periods of rising private credit activity, conditional on a positive market upturn. |
| Value investor | Mixed fit | Value investors often look at BDCs based on the relationship between price and net asset value (NAV). |
| Dividend investor | Strong fit | The company is structured as a BDC specifically to pass through consistent income to shareholders via monthly dividends. |
| Low-risk investor | Weak fit | The high inherent risk of lending to venture-backed startups leads to elevated volatility in both share price and portfolio valuation. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | Medium / high | Share price can fluctuate significantly based on interest rate shifts and the credit health of the underlying portfolio. |
| Valuation risk | Medium | Portfolio assets are often hard to value, leading to potential discrepancies between book value and market price. |
| Competition risk (private credit) | Medium / high | Increased capital flowing into private credit can compress yields and pressure underwriting standards. |
| Business quality | Medium | The company relies on the success of early-stage startups, which inherently possess higher failure rates. |
| Dividend income | Medium | Dividends are dependent on portfolio performance and NII, which can be impacted by loan defaults. |
| Execution risk | Medium | Management must consistently identify high-quality borrowers while effectively managing leverage and interest rate exposure. |
Price Behavior
Rolling Over
The price momentum is slowing down and beginning to turn downward.
Choppy
The stock has experienced frequent reversals and pronounced short-term price swings.
Analysis of Past Performance
Type Stock | Historic Profit -19.29% | Avg. Invested days 48 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 11/03/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 269.48M USD | Price to earnings Ratio 13.86 | 1Y Target Price 5.08 |
Price to earnings Ratio 13.86 | 1Y Target Price 5.08 | ||
Volume (30-day avg) 426.4K shares | Beta 0.98 | 52 Weeks Range 3.46 - 5.90 | Updated Date 11/03/2026 |
52 Weeks Range 3.46 - 5.90 | Updated Date 11/03/2026 | ||
Dividends yield (FY) 27.52% | Basic EPS (TTM) 0.29 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Interest Income | Interest earned on senior secured loans and venture debt provided to portfolio companies. | The primary way the company generates cash to pay dividends. |
| Fee and Other Income | Structuring fees, success fees, and advisory income from portfolio companies. | Additional revenue generated from loan origination activities. |
| Equity/Warrant Gains | Capital appreciation from warrants or equity interests in portfolio companies. | Upside potential from successful portfolio startups. |
Earnings Date
Report Date 2026-11-05 | When After Market | Estimate 0.18 | Actual - |
Profitability
Profit Margin 5.27% | Operating Margin (TTM) 79.44% |
Management Effectiveness
Return on Assets (TTM) 6.08% | Return on Equity (TTM) 1.45% |
Valuation
Trailing PE 13.86 | Forward PE 5.22 | Enterprise Value 596.92M | Price to Sales(TTM) 2.86 |
Enterprise Value 596.92M | Price to Sales(TTM) 2.86 | ||
Enterprise Value to Revenue 32.92 | Enterprise Value to EBITDA 13.46 | Shares Outstanding 67.03M | Shares Floating - |
Shares Outstanding 67.03M | Shares Floating - | ||
Percent Insiders 0.3 | Percent Institutions 12.3 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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