Symbols / HRZN Stock $3.88 -3.72% Horizon Technology Finance Corporation

Financial Services • Asset Management • United States • NMS
HRZN (Stock) Chart
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Financial Services
Industry Asset Management
CEO Mr. Michael Phillip Balkin
Exch · Country NMS · United States
Market Cap 264.52M
Enterprise Value 552.99M
Income -2.66M
Sales 96.02M
FCF (ttm) 38.24M
Book/sh 6.98
Cash/sh 2.21
Employees
Insider 10d
IPO Oct 29, 2010
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 224.56%
P/E
Forward P/E 5.08
PEG 1.91
P/S 2.75
P/B 0.56
P/C
EV/EBITDA
EV/Sales 5.76
Quick Ratio 1.53
Current Ratio 1.56
Debt/Eq 148.52
LT Debt/Eq
EPS (ttm) -0.06
EPS next Y 0.76
EPS Growth
Revenue Growth -12.20%
EPS Gr Q/Q
Rev Gr Q/Q
Earnings (next) 2026-05-05
Earnings (prior) 2026-03-03
ROA 5.99%
ROE -0.81%
ROIC
Gross Margin 100.00%
Oper. Margin 78.47%
Profit Margin -2.77%
Shs Outstand 68.18M
Shs Float
Insider Own 0.92%
Instit Own 6.16%
Short Float 7.87%
Short Ratio 8.15
Short Interest 5.32M
52W High 9.07
vs 52W High -57.22%
52W Low 3.88
vs 52W Low 0.00%
Beta 1.09
Impl. Vol. 38.02%
Rel Volume 1.78
Avg Volume 1.10M
Volume 1.95M
Target (mean) $5.50
Tgt Median $5.50
Tgt Low $4.50
Tgt High $6.50
# Analysts 5
Recom Hold
Prev Close $4.03
Price $3.88
Change -3.72%
About

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.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus Mean price target
2. Current target Latest analyst target
3. DCF / Fair value Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$3.88
Low
$4.50
High
$6.50
Mean
$5.50

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-24 main Oppenheimer Perform → Perform $6
2026-03-06 main B. Riley Securities Neutral → Neutral $6
2025-11-19 main UBS Neutral → Neutral $7
2025-10-14 main UBS Neutral → Neutral $6
2025-08-11 main Maxim Group Buy → Buy $8
2025-07-16 main UBS Neutral → Neutral $8
2025-04-17 main UBS Neutral → Neutral $8
2025-04-08 main Keefe, Bruyette & Woods Underperform → Underperform $8
2025-03-10 main Maxim Group Buy → Buy $13
2025-03-07 main Keefe, Bruyette & Woods Underperform → Underperform $8
2024-12-17 up Compass Point Sell → Neutral $8
2024-08-01 reit B. Riley Securities Sell → Sell $9
2024-08-01 main Keefe, Bruyette & Woods Underperform → Underperform $9
2024-03-18 main UBS Neutral → Neutral $11
2024-03-12 main Keefe, Bruyette & Woods Underperform → Underperform $10
2024-03-01 main Oppenheimer Perform → Perform $10
2024-02-28 down Ladenburg Thalmann Buy → Neutral
2024-01-08 down B. Riley Securities Neutral → Sell $11
2023-10-17 down Compass Point Neutral → Sell $10
2023-09-27 up Compass Point Sell → Neutral $11
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-14 ALLISON THOMAS J Director 49,926 $0.00 $0
2026-04-14 BALKIN MICHAEL Chief Executive Officer 93,527 $0.00 $0
2026-04-14 SEITZ PAUL G Chief Investment Officer 142 $0.00 $0
2024-12-16 BALKIN MICHAEL Director 20,000 $8.53 $170,600
2024-11-25 MICHAUD GERALD A President 8,000 $9.31 $74,519
2024-11-14 SAVAGE JOSEPH J Director 9,500 $9.20 $88,150
2024-08-05 BALKIN MICHAEL Director 10,000 $10.58 $105,800
2024-08-05 GOODMAN JONATHAN JOSEPH Director 2,313 $10.81 $25,004
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
7.22
+327.86%
1.69
+117.09%
-9.87
-137.05%
26.64
Operating Revenue
7.22
+327.86%
1.69
+117.09%
-9.87
-137.05%
26.64
Operating Expense
8.82
+50.86%
5.84
+0.34%
5.82
+21.94%
4.78
Selling General And Administration
6.00
+2.62%
5.84
+3.01%
5.67
+18.78%
4.78
General And Administrative Expense
6.00
+2.62%
5.84
+3.01%
5.67
+18.78%
4.78
Other Operating Expenses
2.82
0.15
Net Income
-2.66
+52.76%
-5.63
+67.22%
-17.18
-181.25%
21.15
Pretax Income
-1.60
+61.56%
-4.16
+73.51%
-15.70
-171.78%
21.87
Net Interest Income
57.66
-10.90%
64.71
-20.27%
81.16
+39.53%
58.16
Interest Expense
32.80
+1.70%
32.26
+11.34%
28.97
+50.87%
19.20
Interest Income
90.46
-6.71%
96.97
-11.95%
110.13
+42.35%
77.37
Gain On Sale Of Security
-55.11
-59.15%
-34.63
-16.59%
-29.70
-213.18%
-9.48
Tax Provision
1.06
-27.98%
1.48
-0.94%
1.49
+108.39%
0.71
Tax Rate For Calcs
0.00
+0.00%
0.00
+0.00%
0.00
+542.22%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
-2.66
+52.76%
-5.63
+67.22%
-17.18
-181.25%
21.15
Net Income From Continuing Operation Net Minority Interest
-2.66
+52.76%
-5.63
+67.22%
-17.18
-181.25%
21.15
Net Income From Continuing And Discontinued Operation
-2.66
+52.76%
-5.63
+67.22%
-17.18
-181.25%
21.15
Net Income Continuous Operations
-2.66
+52.76%
-5.63
+67.22%
-17.18
-181.25%
21.15
Normalized Income
-2.66
+52.76%
-5.63
+67.22%
-17.18
-181.25%
21.15
Net Income Common Stockholders
-2.66
+52.76%
-5.63
+67.22%
-17.18
-181.25%
21.15
Diluted EPS
-0.06
+62.50%
-0.16
+71.43%
-0.56
-165.12%
0.86
Basic EPS
-0.06
+62.50%
-0.16
+71.43%
-0.56
-165.12%
0.86
Basic Average Shares
42.35
+17.30%
36.10
+16.62%
30.96
+25.20%
24.73
Diluted Average Shares
42.35
+17.30%
36.10
+16.62%
30.96
+25.20%
24.73
Diluted NI Availto Com Stockholders
-2.66
+52.76%
-5.63
+67.22%
-17.18
-181.25%
21.15
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
811.10
-1.31%
821.83
+2.43%
802.36
+4.63%
766.83
Cash And Cash Equivalents
105.52
+50.18%
70.26
+50.68%
46.63
+126.23%
20.61
Cash Financial
105.52
+50.18%
70.26
+50.68%
46.63
+126.23%
20.61
Receivables
12.09
-27.01%
16.56
+18.91%
13.93
+2.60%
13.57
Investments And Advances
681.96
-5.96%
725.16
-1.41%
735.53
+1.16%
727.09
Total Liabilities Net Minority Interest
492.60
+1.43%
485.65
+1.52%
478.38
+6.69%
448.38
Payables
16.03
+12.84%
14.20
+17.75%
12.06
+3.85%
11.62
Accounts Payable
15.05
+14.39%
13.16
+19.51%
11.01
+20.22%
9.16
Other Payable
0.97
-6.70%
1.04
-0.67%
1.05
-57.18%
2.46
Long Term Debt And Capital Lease Obligation
473.03
+1.09%
467.90
+1.23%
462.24
+6.49%
434.08
Stockholders Equity
318.50
-5.26%
336.18
+3.77%
323.98
+1.74%
318.45
Common Stock Equity
318.50
-5.26%
336.18
+3.77%
323.98
+1.74%
318.45
Capital Stock
0.05
+15.91%
0.04
+22.22%
0.04
+24.14%
0.03
Common Stock
0.05
+15.91%
0.04
+22.22%
0.04
+24.14%
0.03
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
45.78
+14.33%
40.04
+19.41%
33.53
+20.11%
27.92
Ordinary Shares Number
45.61
+14.39%
39.88
+19.51%
33.37
+20.23%
27.75
Treasury Shares Number
0.17
+0.00%
0.17
+0.00%
0.17
+0.00%
0.17
Additional Paid In Capital
559.36
+7.94%
518.20
+14.91%
450.95
+16.85%
385.92
Retained Earnings
-240.90
-32.32%
-182.06
-43.35%
-127.00
-88.15%
-67.50
Total Equity Gross Minority Interest
318.50
-5.26%
336.18
+3.77%
323.98
+1.74%
318.45
Total Capitalization
791.53
-1.56%
804.09
+2.27%
786.22
+4.48%
752.53
Invested Capital
791.53
-1.56%
804.09
+2.27%
786.22
+4.48%
752.53
Total Debt
473.03
+1.09%
467.90
+1.23%
462.24
+6.49%
434.08
Net Debt
367.51
-7.58%
397.64
-4.32%
415.61
+0.52%
413.47
Net Tangible Assets
318.50
-5.26%
336.18
+3.77%
323.98
+1.74%
318.45
Tangible Book Value
318.50
-5.26%
336.18
+3.77%
323.98
+1.74%
318.45
Available For Sale Securities
34.71
+27.31%
27.27
+3.09%
26.45
+274.33%
7.07
Cash Cash Equivalents And Federal Funds Sold
107.98
+46.71%
73.60
+49.38%
49.27
+110.56%
23.40
Financial Assets Designatedas Fair Value Through Profitor Loss Total
647.24
-7.26%
697.89
-1.58%
709.09
-1.52%
720.03
Investmentin Financial Assets
681.96
-5.96%
725.16
-1.41%
735.53
+1.16%
727.09
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
56.63
+1338.38%
3.94
+174.90%
-5.26
+97.87%
-246.28
Net Income From Continuing Operations
-2.66
+52.76%
-5.63
+67.22%
-17.18
-181.25%
21.15
Other Non Cash Items
-1.95
-5.88%
-1.84
+72.16%
-6.60
-511.41%
1.60
Gain Loss On Investment Securities
60.92
+243.91%
17.71
-23.49%
23.15
+108.87%
-261.11
Change In Working Capital
0.31
+104.98%
-6.31
-36.40%
-4.62
+41.65%
-7.92
Change In Receivables
0.69
+174.51%
-0.92
-152.00%
1.77
+151.89%
-3.42
Change In Accrued Expense
0.01
+100.93%
-0.54
-138.41%
1.39
+83.77%
0.76
Change In Payable
-0.07
-900.00%
-0.01
+99.50%
-1.41
-432.20%
-0.26
Change In Other Current Assets
-1.37
-455.28%
-0.25
+62.15%
-0.65
-316.67%
-0.16
Change In Other Current Liabilities
1.06
+123.02%
-4.60
+19.84%
-5.74
-18.35%
-4.85
Financing Cash Flow
-14.80
-169.80%
21.21
-58.01%
50.51
-77.99%
229.46
Net Issuance Payments Of Debt
31.42
+416.98%
6.08
-77.22%
26.68
-85.10%
179.07
Issuance Of Debt
112.50
+18.42%
95.00
-8.87%
104.25
-70.76%
356.50
Repayment Of Debt
-81.08
+8.82%
-88.92
-14.63%
-77.57
+56.28%
-177.43
Long Term Debt Issuance
112.50
+18.42%
95.00
-8.87%
104.25
-70.76%
356.50
Long Term Debt Payments
-81.08
+8.82%
-88.92
-14.63%
-77.57
+56.28%
-177.43
Net Long Term Debt Issuance
31.42
+416.98%
6.08
-77.22%
26.68
-85.10%
179.07
Net Common Stock Issuance
14.08
-78.78%
66.35
+1.94%
65.09
-23.06%
84.60
Common Stock Dividend Paid
-53.09
-14.50%
-46.37
-14.43%
-40.52
-35.77%
-29.85
Cash Dividends Paid
-53.09
-14.50%
-46.37
-14.43%
-40.52
-35.77%
-29.85
Net Other Financing Charges
0.00
0.00
0.00
0.00
Changes In Cash
41.83
+66.33%
25.15
-44.44%
45.26
+369.14%
-16.82
Beginning Cash Position
100.87
+33.21%
75.72
+148.55%
30.47
-35.56%
47.28
End Cash Position
142.69
+41.47%
100.87
+33.21%
75.72
+148.55%
30.47
Free Cash Flow
56.63
+1338.38%
3.94
+174.90%
-5.26
+97.87%
-246.28
Common Stock Issuance
14.08
-78.78%
66.35
+1.94%
65.09
-23.06%
84.60
Issuance Of Capital Stock
14.08
-78.78%
66.35
+1.94%
65.09
-23.06%
84.60
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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