In a year marked by significant volatility, Horizon Technology (NASDAQ:HRZN) Finance Corporation (HRZN) stock has reached a 52-week low, trading at $9.06, while maintaining an impressive 15.93% dividend yield. According to InvestingPro data, the company has consistently paid dividends for 15 consecutive years. This price level reflects a stark contrast to the company's performance over the past year, with HRZN experiencing a 1-year total return of -20.02%. Investors are closely monitoring the business development company as it navigates through a challenging economic environment, which has seen many firms in the sector struggle to maintain their valuations. The 52-week low serves as a critical indicator for shareholders and potential investors, who are now weighing Horizon Tech 's future prospects against the backdrop of its recent market performance. While the company maintains strong liquidity with a current ratio of 4.31, InvestingPro subscribers have access to 6 additional key insights about HRZN's financial health and growth potential through detailed Pro Research Reports.
In other recent news, Horizon Technology Finance Corporation disclosed its Q3 2024 earnings results, reporting a net investment income (NII) of $0.32 per share, slightly below its declared distribution level. The company announced monthly distributions of $0.11 per share through March 2025 and a 6% growth in its portfolio to $684 million. Its debt portfolio yield stood at 15.9%, one of the highest in the Business Development Company industry.
Notwithstanding a lower net investment income compared to the same quarter last year and a decrease in net asset value per share, Horizon Technology Finance remains hopeful about its future growth and the venture debt market, specifically in the technology and life sciences sectors. The company also reported nine new debt investments totaling $93 million, focusing on high-quality loans, and a backlog of $190 million in committed and approved loans.
Moreover, Horizon Technology Finance raised over $18 million through an at-the-market program and $20 million via convertible notes in October. It reported $125 million in available liquidity and no outstanding borrowings as of the end of September. Despite a slight decrease in investment income for Q3 to $25 million, down from $29 million in Q3 2023, the company maintains a positive outlook, expecting robust pipeline growth of $1.2 billion.
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