News Watch: Horizon Technology Finance Corporation (NASDAQ:HRZN) reveals its portfolio update

Horizon Technology Finance Corporation (NASDAQ:HRZN) spotted trading -12.46% off 52-week high price. On the other end, the stock has been noted 17.41% away from the low price over the last 52-weeks. The stock changed -0.17% to recent value of $11.8. The stock transacted 71903 shares during most recent day however it has an average volume of 74.19K shares. The company has 13.54M of outstanding shares.

On Oct. 9, 2019,  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 third quarter ended September 30, 2019.

The momentum in the venture debt market we experienced during the first half of 2019 continued into the third quarter, as we successfully grew our portfolio for a sixth consecutive quarter by originating $46 million of loans to new and existing portfolio companies, said Gerald A. Michaud, President of Horizon. In addition, we continued to benefit from the strength of our predictive pricing strategy as three of our portfolio companies prepaid their loans, providing additional returns through accelerated income and fees. During the quarter, we also completed a successful securitization which increased our overall lending capacity and expanded our opportunity to further grow our high quality, premium-priced, venture debt portfolio. We remain committed, and, we believe, well positioned, to deliver our shareholders long-term value.

Originations

Horizon funded six loans during the third quarter of 2019 totaling $46.6 million:

  • $20.0 million to a new portfolio company, CVRx, a developer of a premarket FDA-approved medical device addressing advanced cardiovascular diseases.
  • $11.6 million to an existing portfolio company, MacuLogix, a medical device company in the optometry and ophthalmology industry.
  • $5.0 million to a new portfolio company, LogicBio Therapeutics, (NASDAQ: LOGC), a genome editing company focused on developing medicines to durably treat rare diseases.
  • $4.8 million to an existing portfolio company focused on the late-stage development and commercialization of drugs to treat cardiovascular diseases.
  • $2.7 million to an existing portfolio company, IntelePeer Holdings, a leading provider of business communications.
  • $2.5 million to an existing portfolio company, Bridge2 Solutions, LLC, a SaaS platform technology company providing innovative solutions to drive engagement and loyalty between brands and their consumers.

Its earnings per share (EPS) expected to touch remained 6.70% for this year while earning per share for the next 5-years is expected to reach at 5.00%.

The price moved ahead of -0.27% from the mean of 20 days, -1.09% from mean of 50 days SMA and performed -1.34% from mean of 200 days price. Company’s performance for the week was 1.11%, -0.51% for month and YTD performance remained 4.89%.

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