Firsthand Technology Value Fund (SVVC) Downgraded by TheStreet to “C+”

TheStreet downgraded shares of Firsthand Technology Value Fund (NASDAQ:SVVC) from a b- rating to a c+ rating in a research note released on Monday morning, TheStreetRatingsTable reports.

Separately, ValuEngine downgraded Firsthand Technology Value Fund from a buy rating to a hold rating in a research report on Monday, April 29th.

Shares of NASDAQ SVVC opened at $10.04 on Monday. Firsthand Technology Value Fund has a twelve month low of $9.26 and a twelve month high of $17.74.

Firsthand Technology Value Fund (NASDAQ:SVVC) last announced its quarterly earnings results on Monday, March 18th. The investment management company reported $0.96 earnings per share for the quarter. The firm had revenue of $1.11 million for the quarter. Firsthand Technology Value Fund had a negative return on equity of 2.77% and a net margin of 311.18%.

In other news, President Kevin M. Landis acquired 3,679 shares of Firsthand Technology Value Fund stock in a transaction dated Tuesday, March 5th. The stock was bought at an average price of $13.05 per share, for a total transaction of $48,010.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.50% of the company’s stock.

Several large investors have recently modified their holdings of the company. Yakira Capital Management Inc. boosted its holdings in shares of Firsthand Technology Value Fund by 1.9% during the first quarter. Yakira Capital Management Inc. now owns 67,969 shares of the investment management company’s stock worth $902,000 after acquiring an additional 1,295 shares during the period. Intl Fcstone Inc. boosted its holdings in shares of Firsthand Technology Value Fund by 6.6% during the first quarter. Intl Fcstone Inc. now owns 28,210 shares of the investment management company’s stock worth $374,000 after acquiring an additional 1,755 shares during the period. Cutler Group LP boosted its holdings in shares of Firsthand Technology Value Fund by 717.0% during the first quarter. Cutler Group LP now owns 2,500 shares of the investment management company’s stock worth $33,000 after acquiring an additional 2,194 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Firsthand Technology Value Fund by 10,885.2% during the first quarter. JPMorgan Chase & Co. now owns 2,966 shares of the investment management company’s stock worth $39,000 after acquiring an additional 2,939 shares during the period. Finally, Cordasco Financial Network bought a new stake in shares of Firsthand Technology Value Fund during the first quarter worth approximately $41,000. Institutional investors own 9.49% of the company’s stock.

About Firsthand Technology Value Fund

Firsthand Technology Value Fund, Inc is a business development company specializes in investments in start-up, late, development stage, and PIPEs. It seeks to invest in pre-IPO companies. The fund also seeks to make investments in companies with operating histories that are unprofitable or marginally profitable, that have negative net worth, or that are involved in bankruptcy or reorganization proceedings.

Further Reading: Earnings Per Share (EPS) Explained

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