Loading...
Loading...
In a report published Thursday, Ascendiant Capital Markets analyst Edward Woo reiterated a Buy rating on
Firsthand Technology Value FundSVVC, and raised the price target from $23.00 to $26.00.
In the report, Ascendiant Capital Markets noted, “Net change in net assets from operations per share (EPS) of $1.54 compared with our estimate of $0.12. There were no consensus estimates or company guidance. This improvement (from Q1's EPS of $0.36) was mainly due to a large increase in valuation of its SolarCity [SCTY; Not Rated] shares (+122% from Q1). The company's NAV per share increased to $24.80 from Q1's $23.26. During Q2, SVVC invested ~$8 million in 1 new company and existing (undisclosed) portfolio companies. As of June 2013, SVVC had investments (Fair Value) of $86 million, with a cost basis of $90million. This compares with March 2013's investments (Fair Value) of $64million, with a cost basis of $82 million. So far in Q3, SVVC has invested $13 million in 3 new companies and 1 existing company, so total companies invested is 16 (13 privately-held and 3 public companies).”
Firsthand Technology Value Fund closed on Wednesday at $22.07.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in