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Horizon Technology Finance Corporation (HTFB)



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Upturn Advisory Summary
06/30/2025: HTFB (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $
1 Year Target Price $
0 | Strong Buy |
0 | Buy |
0 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -0.49% | Avg. Invested days 62 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 343.84M USD | Price to earnings Ratio 20.43 | 1Y Target Price - |
Price to earnings Ratio 20.43 | 1Y Target Price - | ||
Volume (30-day avg) - | Beta 1.17 | 52 Weeks Range 22.70 - 25.16 | Updated Date 06/29/2025 |
52 Weeks Range 22.70 - 25.16 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 5.18% | Basic EPS (TTM) 1.22 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -2.31% | Operating Margin (TTM) 84.56% |
Management Effectiveness
Return on Assets (TTM) 7.25% | Return on Equity (TTM) -0.77% |
Valuation
Trailing PE 20.43 | Forward PE - | Enterprise Value 1200283392 | Price to Sales(TTM) - |
Enterprise Value 1200283392 | Price to Sales(TTM) - | ||
Enterprise Value to Revenue - | Enterprise Value to EBITDA - | Shares Outstanding - | Shares Floating - |
Shares Outstanding - | Shares Floating - | ||
Percent Insiders - | Percent Institutions - |
Analyst Ratings
Rating - | Target Price - | Buy - | Strong Buy - |
Buy - | Strong Buy - | ||
Hold - | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Horizon Technology Finance Corporation
Company Overview
History and Background
Horizon Technology Finance Corporation (HRZN) was founded in 2004 and went public in 2010. It focuses on providing debt financing to venture capital-backed companies in the technology, life science, healthcare information and services, and clean-tech industries.
Core Business Areas
- Venture Lending: Provides secured loans to venture capital-backed companies, primarily in the form of debt financing.
- Warrants and Equity Investments: Occasionally invests in warrants or equity of portfolio companies to enhance returns.
Leadership and Structure
Robert Pomeroy is the Chairman and Chief Executive Officer. The company operates as a business development company (BDC) with an externally managed structure.
Top Products and Market Share
Key Offerings
- Venture Debt Financing: Provides secured loans ranging from $5 million to $30 million to companies unable to access traditional bank financing. Competitors include Ares Capital Corporation (ARCC), Golub Capital BDC (GBDC) and PennantPark Investment Corporation (PNNT). Market share information is difficult to precisely pinpoint due to the fragmented nature of the venture debt market.
Market Dynamics
Industry Overview
The venture debt market caters to high-growth, venture-backed companies that require capital beyond what equity financing can provide. It's a niche market impacted by the overall venture capital and technology sectors.
Positioning
HRZN positions itself as a specialized lender in the technology and life science sectors, targeting companies that are considered higher-risk but offer potential for high returns. Their competitive advantage lies in their industry expertise and relationships with venture capital firms.
Total Addressable Market (TAM)
The TAM for venture debt is estimated to be in the tens of billions of dollars annually, fluctuating with venture capital activity. HRZN has a modest market share, leaving considerable room for growth within its target segments.
Upturn SWOT Analysis
Strengths
- Specialized industry expertise in technology and life sciences
- Established relationships with venture capital firms
- High dividend yield
- Experienced management team
Weaknesses
- High credit risk due to lending to early-stage companies
- Reliance on external management
- Sensitivity to economic downturns
- Relatively small market capitalization compared to other BDCs
Opportunities
- Expansion into new technology and life science sub-sectors
- Increasing demand for venture debt financing
- Strategic acquisitions of smaller lenders
- Growing portfolio and assets under management (AUM)
Threats
- Increased competition from other lenders
- Rising interest rates
- Economic recession
- Deterioration of portfolio company performance
Competitors and Market Share
Key Competitors
- ARCC
- GBDC
- PNNT
Competitive Landscape
HRZN differentiates itself through its focus on technology and life science companies. Its smaller size can be a disadvantage compared to larger competitors like ARCC. HRZNu2019s advantage is its specialized knowledge.
Growth Trajectory and Initiatives
Historical Growth: HRZN's growth has been driven by increasing loan originations and expanding its portfolio. Historical data available from financial websites.
Future Projections: Future growth is dependent on continued demand for venture debt financing and HRZN's ability to originate high-quality loans. Analyst estimates available from financial websites.
Recent Initiatives: Recent initiatives include expanding its origination team and targeting specific technology and life science sub-sectors.
Summary
Horizon Technology Finance Corporation is a specialized lender focused on venture capital-backed tech and life science companies. The company's strengths lie in its industry expertise and high dividend yield, but it faces risks related to credit quality and economic sensitivity. Growth prospects are tied to the venture capital market's health, but the company could face increased competition. They need to monitor credit risk and manage capital efficiently.
Peer Comparison
Sources and Disclaimers
Data Sources:
- SEC Filings
- Company Website
- Financial News Outlets
- Analyst Reports
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Investment decisions should be based on individual risk tolerance and thorough research.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Horizon Technology Finance Corporation
Exchange NYSE | Headquaters Farmington, CT, United States | ||
IPO Launch date 2021-04-07 | Chairman & CEO Mr. Robert D. Pomeroy Jr. | ||
Sector - | Industry - | 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.
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