Horizon Technology Finance Corporation (NASDAQ:HRZN) spotted trading -2.37% off 52-week high price. On the other end, the stock has been noted 17.74% away from the low price over the last 52-weeks. The stock changed 0.30% to recent value of $13.16. The stock transacted 264449 shares during last trading day however it has an average volume of 122.02K shares. The company has 14.57M of outstanding shares.
On Jan. 8, 2020, Horizon Technology Finance Corporation (NASDAQ:HRZN) a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, provided its portfolio update for the fourth quarter ended December 31, 2019.
We are excited to conclude a banner year with our seventh consecutive quarter of portfolio growth, originating $65 million of loans to both new and existing portfolio companies, said Gerald A. Michaud, President of Horizon. In addition to our consistent portfolio growth arising from the ongoing strong demand for our venture debt solutions, we are pleased that, with two portfolio companies’ loan prepayments, our predictive pricing strategy continues to produce heightened returns from accelerated income and fees, as well as the potential for additional future returns from related warrants. In addition, we continue to maintain ample capacity to make loans as we seek additional opportunities in the venture debt market to complement and further enhance the value of our venture debt portfolio. We believe we remain strongly positioned to deliver long-term value to our shareholders.
Horizon funded seven loans during the fourth quarter of 2019 totaling $65.0 million:
- $20.0 million to a new portfolio company, Updater Inc., a leading provider of relocation technology services.
- $12.0 million to a new portfolio company, a developer and manufacturer of a smart-tinting glass product available for both commercial and residential use.
- $10.0 million to a new portfolio company, Kate Farms, a medical nutrition company that develops non-GMO, all-organic, common allergenic-free, ready-to-consume formulas for patients with impaired digestion.
- $9.0 million to a new portfolio company, an online learning community with thousands of classes in creative, business and tech disciplines.
- $5.0 million to an existing portfolio company, a provider of high-speed, high-performance solid-state data storage array software.
- $5.0 million to an existing portfolio company, a SaaS marketing data and CRM platform specialized for the hospitality industry.
- $4.0 million to an existing portfolio company, CSA Medical (CSA Medical), a developer of novel, patent-protected cryotherapy medical devices.
Its earnings per share (EPS) expected to touch remained 16.70% for this year while earning per share for the next 5-years is expected to reach at 5.00%.
The price moved ahead of 4.75% from the mean of 20 days, 5.25% from mean of 50 days SMA and performed 9.28% from mean of 200 days price. Company’s performance for the week was 1.78%, 6.21% for month and YTD performance remained 1.78%.
David Yen is a Certified Internal Auditor, Data Miner, and author with a career broadly spanning over multiple business areas. He has exploited those observations and developed investment tactics within a fundamentally sound long-term investment strategy. He currently covers Business News category for our site. David Yen is a self-taught investor and follows the value investing approach to picking stocks. He possesses over 5 years of investment experience; an M.B.A. from Louisiana State University and also certified in Risk Management Assurance.
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