Horizon Technology Finance Corp entered a material agreement
SEC 8-KRead source ↗
Horizon Technology Finance Corp is a US-listed company in the asset management & custody banks industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Model estimate per share
~$6.8
Forward price-to-earnings vs peers
Base case. Range ~$5.8–$8.8. Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings.
Price vs value
No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.
Horizon Technology Finance Corp valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Insiders6 buying, 0 selling7 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
- Funds88 adding, 19 cuttingOf 6 active managers that changed their stake, 4 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
Nothing in Horizon Technology Finance Corp's latest figures clears our strength thresholds.
Things to watch
- Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
Latest results
- Earnings per share
- $0.11 against an average estimate of $0.11: missed by 2.3%
- Share reaction
- -2.9% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
- Next report
- November 5, 2026; average EPS estimate $0.18
Price chart
- 1 day-1.2%
- 1 week+2.0%
- 1 month-11.2%
- This year-26.0%
- 1 year-23.8%
- 5 years-54.2%
- S&P 500 this year+11.2%
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Third-party market data · may be delayed
At a glance
Earnings
- Last results
- August 4, 2026
News & updates
Company announcements, filed results and changes that matter to shareholders.
- Agreement
- Announcement
Horizon Technology Finance Corp disclosed a material event
SEC 8-KRead source ↗ - Results
Horizon Technology Finance Corp reported results
SEC 8-KRead source ↗
Valuation models
We value Horizon Technology Finance Corp as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 8.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.8 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$6.8 ~$5.8–$8.8 | Primary model, counts double |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Combined value Weighted average of the models that apply: the primary model (forward price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$6.8 ~$5.8–$8.8 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Horizon Technology Finance Corp with asset managers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Next results: November 5, 2026, after the close. Analysts expect revenue of $25m and EPS of $0.18 (range $0.17 to $0.19) for the quarter.
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $0.68 | −36% | $100m | +5% |
| Next | $0.74 | +10% | $115m | +15% |
Next year's EPS estimate has moved −2.4% in 90 days, across 6 analysts.
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is +0.7% on 90 days ago. In the last 30 days, 1 analyst raised Horizon Technology Finance Corp's forecast and 3 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $0.67 | $0.76 |
| 60 days ago | $0.67 | $0.71 |
| 30 days ago | $0.67 | $0.74 |
| 7 days ago | $0.67 | $0.74 |
| Now | $0.68 | $0.74 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | $0.11 | $0.11 | −2.3% |
| Mar 2026 | $0.18 | $0.19 | +3.5% |
| Dec 2025 | $0.29 | $0.18 | −37.9% |
| Sept 2025 | $0.28 | $0.31 | +11.6% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 4.4% of tradable shares
- Days to cover
- 7.13 at average volume
- Short interest, 1 month
- −1% to October 15, 2026
- Held by institutions
- 12% of shares
- Held by insiders
- 0.3% of shares
Share-price performance
Market data may be delayedReturn and risk by year
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| HRZN | +30% | −20% | +27% | −23% | −14% | −26% |
| Industry peers (median) | +33% | −17% | +19% | +15% | −4% | −6% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| HRZN | 42% | 33% | 67% | 25% | 50% | 55% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| HRZN | −15% | −36% | −16% | −29% | −35% | −40% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 63% from November 15, 2021 to April 27, 2026. Getting back needed a 167% gain, and the shares have not yet recovered.
Price behaviour
- 52-week range
- $3.46 – $5.75
- From 52-week high
- −30.1%
- vs 50-day average
- −9.2%
- vs 200-day average
- −8.0%
- Volatility (1 year)
- 43%
- Beta vs S&P 500
- 0.98
Share price after results
- Next day
- 5 up, 7 down typical move ±7.5%
- After a week
- 7 up, 5 down typical move ±7.7%
- After a month
- 4 up, 8 down typical move ±9.6%
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 4, 2026 | −2.9% | +1.6% | +8.4% | +8.4% |
| May 5, 2026 | +9.6% | +2.2% | +1.4% | +12.8% |
| March 3, 2026 | −22.6% | −0.2% | −29.7% | −30.2% |
| October 28, 2025 | +8.2% | +0.3% | +8.7% | +11.6% |
| August 7, 2025 | −7.4% | +0.7% | −7.8% | −9.3% |
| July 9, 2025 | +4.2% | +0.9% | +4.5% | −3.6% |
| April 29, 2025 | −15.3% | +0.7% | −14.2% | −13.2% |
| April 9, 2025 | +1.9% | +5.7% | +3.4% | −3.1% |
| March 4, 2025 | −11.5% | −0.1% | −5.0% | −2.4% |
| January 8, 2025 | −1.4% | −1.4% | +0.7% | +3.9% |
| October 29, 2024 | −4.3% | −0.1% | −8.4% | −7.2% |
| October 9, 2024 | +0.8% | +0.5% | +0.1% | −9.5% |
Fundamentals
Who owns it
Funds buying and selling- Reported value
- $38.2M
- Institutions reporting
- 107
- Shares held vs prior quarter
- ▲ 152.5%
- Positions opened / closed
- 61 / 11
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Morgan Stanley | $5M | 1.1M | 13.1% | ▲ 2125.2% |
| Bulldog Investors, LLP | $3.1M | 659K | 8.1% | New |
| Marshall Wace, LLP | $2.8M | 592K | 7.3% | ▲ 244.8% |
| Caprock Group, LLC | $2.2M | 454K | 5.7% | New |
| Green Alpha Advisors, LLC | $2M | 430K | 5.3% | ▼ 27.2% |
| Legal & General Group PLC | $1.8M | 386K | 4.8% | ▲ 17.5% |
| Eagle Point Credit Management LLC | $1.7M | 366K | 4.5% | 0.0% |
| Virtus Investment Advisers, LLC | $1.2M | 252K | 3.1% | ▲ 75.4% |
| Blair William & Co | $1.1M | 239K | 3.0% | New |
| Bank Of America Corp | $1.1M | 226K | 2.8% | ▲ 270.3% |
| Caz Investments LP | $1M | 217K | 2.7% | New |
| Connecticut Wealth Management, LLC | $1M | 215K | 2.7% | ▲ 0.3% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Horizon Technology Finance Corp's complete shareholder register. Values are as reported by the filers .
Insider trading activity
Full insider history and chart Insider purchases History → $655,835 7 trades by 6 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $655,835 net buying
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Trolio Daniel R. Executive VP and CFO | June 10, 2026 | Buy | 11,500 | $4.34 | $49,910 |
| Balkin Michael Chief Executive Officer | June 9, 2026 | Buy | 100,000 | $4.34 | $434,000 |
| Allison Thomas J. Director | June 9, 2026 | Buy | 6,000 | $4.36 | $26,160 |
| Seitz Paul G Chief Investment Officer | June 9, 2026 | Buy | 11,477 | $4.35 | $49,925 |
| Goodman Jonathan Joseph Director | June 9, 2026 | Buy | 6,000 | $4.33 | $25,980 |
| O'Connor Kimberley Ann Director | June 9, 2026 | Buy | 10,000 | $4.37 | $43,700 |
| Allison Thomas J. Director | June 9, 2026 | Buy | 6,000 | $4.36 | $26,160 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Results announcements
- August 4, 2026
- May 5, 2026
- March 3, 2026
- October 28, 2025
- August 7, 2025
- July 9, 2025
Recent SEC filings
- 8-K Current report
- 8-K Current report
- 10-Q Quarterly report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- DEF 14A Proxy statement
- 10-Q Quarterly report
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Horizon Technology Finance Corp in brief
- What does Horizon Technology Finance Corp do?
- Horizon Technology Finance Corp is a US-listed company in the asset management & custody banks industry. Its financial year ends in December.
- What is Horizon Technology Finance Corp's stock ticker?
- Horizon Technology Finance Corp trades under the ticker HRZN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- Who are Horizon Technology Finance Corp's largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Morgan Stanley, Bulldog Investors, LLP and Marshall Wace, LLP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Are insiders buying or selling Horizon Technology Finance Corp stock?
- Over the last 12 months, Horizon Technology Finance Corp's directors and officers reported 7 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
- When is Horizon Technology Finance Corp's next earnings date?
- Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Horizon Technology Finance Corp announces its own schedule.
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